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enSolar Market Insight Report 2014 Q4http://www.seia.org/research-resources/solar-market-insight-report-2014-q4
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<p>The quarterly SEIA/GTM Research U.S. Solar Market Insight™ report shows the major trends in the U.S. solar industry. Learn more about the U.S. Solar Market Insight Report.</p>
<h1>Key Figures</h1>
<ul><li>The U.S. installed 6,201 MWdc of solar PV in 2014, up 30 percent over 2013, making 2014 the largest year ever in terms of PV installations.</li>
<li>More than one-third of all cumulative operating PV capacity in the U.S. came on-line in 2014.</li>
<li>By the end of 2014, 20 states eclipsed the 100 MWdc mark for cumulative operating solar PV installations, and California’s market alone is home to 8.7 GWdc.</li>
<li>For the first time ever, more than half a gigawatt of residential solar installations came on-line without any state incentive in 2014. </li>
<li>32 percent of all new electric generating capacity in the U.S. came from solar in 2014. </li>
<li>Growth remains driven primarily by the utility solar PV market, which installed 1.5 GWdc in Q4 2014, the largest quarterly total ever for any market segment. </li>
<li>We forecast that PV installations will reach 8.1 GWdc in 2015, up 31 percent over 2014. Growth will occur in all segments, but will be most rapid in the residential market.</li>
<li>2014 was the largest year ever for concentrating solar power, with 767 MWac brought on-line. Notable project completions include the 392 MWac Ivanpah project. Genesis Solar project’s second phase of 125 MWac, and Abengoa’s Mojave Solar (250 MWac), which achieved commercial operation in December 2014.</li>
</ul><h1>1. Introduction</h1>
<p>Solar energy posted another banner year in the U.S. in 2014. Photovoltaic (PV) installations reached 6,201 MWdc, up 30 percent over 2013 and more than 12 times the amount installed five years earlier. By the end of the year, a cumulative total of 18.3 GWdc of solar PV and another 2.2 GWac of concentrating solar power (CSP) were operating in the U.S. Over 600,000 homes and businesses now have on-site solar (nearly 200,000 of these installations were completed in 2014), and six states are home to more than 500 MWdc each of operating solar capacity.</p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/1-1-AnnualUSSolarPVInstallations2000-2014.png" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/1-1-AnnualUSSolarPVInstallations2000-2014.png" style="width: 500px; height: 317px;" /></a></p>
<p>As solar has grown in the U.S. over the past few years, so has its share of total new electricity generation capacity. In 2014, solar accounted for 32 percent of new generating capacity in the U.S., second only to natural gas.</p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/1-2-NewUSElectricGeneratingCapacityAdditions2012-2014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/1-2-NewUSElectricGeneratingCapacityAdditions2012-2014.png" style="width: 500px; height: 439px;" /></a></p>
<p>Three fundamental drivers have contributed to solar’s continued growth in the U.S.</p>
<ol><li><strong>Falling costs:</strong> The cost of solar continues to fall across segments and states. While PV module prices remained relatively flat in 2014, balance-of-systems (BOS) prices fell precipitously, leading to an average 10% annual decline in system prices, depending on the market segment. In many states, solar is on the cusp of economic feasibility, so each incremental decline in prices opens up the market to new potential customers and makes solar more competitive with the alternative, whether that’s retail electricity or new combined-cycle natural gas plants.</li>
<li><strong>Downstream innovation and expansion:</strong> As the cost of solar has fallen, solar companies have created new and better ways to make solar available and attractive to more customers. In the residential market, the advent of financial solutions including power-purchase agreements (PPAs), leases and increasingly solar-optimized loans has opened up a wide swath of demand that previously did not exist. In the commercial market, developers sell multi-site portfolios to retailers, standardize their contracts to streamline financing, and now offer energy storage as an add-on to maximize solar’s benefits by reducing demand charges. And in the utility-scale market, developers have sought procurement mechanisms outside utility regulatory or legislative requirements, resulting in over 4 GWdc of new PPAs signed through non-traditional means over the past 12 months.</li>
<li><strong>Stable policy and regulation: </strong>Despite an increasing number of proceedings regarding solar and electricity rate structures, the regulatory and policy environment for solar in the U.S. has generally been stable for the past few years. At the federal level, the industry has benefitted from the federal 30% Investment Tax Credit (more on that to follow), and most state policies have been reasonably clear and visible. As a result, businesses have been able to plan strategically and chart a clear course for expansion.</li>
</ol><p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/1-3-USPVInstallationsbySegment2005-2014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/1-3-USPVInstallationsbySegment2005-2014.png" style="width: 500px; height: 384px;" /></a></p>
<p>Without question, 2015 will be another growth year for U.S. solar. But a number of factors will dictate the course and trajectory of growth. Some key themes to watch in 2015:</p>
<ol><li><strong>The residential solar boom continues, but rate structure revisions threaten growth.</strong> Home solar has been a consistent growth story over the past three years, posting annual growth rates over 50 percent in 2012, 2013 and 2014. But as we detail in this report, there are more than 20 ongoing proceedings that could impact residential solar’s value proposition through either changes to net energy metering or electricity rate structures. 2015 will be the year in which some of the most prominent proceedings (most notably California’s AB 327) start to see resolution, while new debates will undoubtedly emerge.</li>
<li><strong>Commercial solar is seeking a comeback.</strong>While residential solar has soared in the U.S., commercial solar has stagnated. In 2014, just over 1,000 MWdc of commercial solar capacity was installed, down 6% from 2013 and even down 3 percent from 2012. Many factors have contributed to this trend, ranging from tight economics to difficulty financing small commercial installations. But 2015 will be a telling year for the commercial market. Many participants expect a pickup in demand in key states including California, New Jersey and New York, which, if proven true, could reignite the sector and bring it back on pace with the residential market.</li>
<li><strong>The enormous utility-scale solar pipeline comes to fruition.</strong> There are just over 14 GWdc of utility-scale solar projects in the U.S. with power-purchase agreements in place and expected completion dates of 2015 or 2016. The next two years will see a flurry of project completion announcements and unprecedented installation figures from the utility solar sector. There is no question that this segment will remain by far the largest in terms of annual capacity additions through 2016, but its fate after the 2017 ITC expiration remains in doubt.</li>
</ol><p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/1-4-USPVInstallationsbyStateandMarketSegment2014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/1-4-USPVInstallationsbyStateandMarketSegment2014.png" style="width: 500px; height: 333px;" /></a></p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/1-5-StateSolarPVInstallationRankings2012-2014.png" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/1-5-StateSolarPVInstallationRankings2012-2014.png" style="width: 500px; height: 683px;" /></a></p>
<h1>2. Photovoltaics</h1>
<h3>2.1.1. Market Segment Trends</h3>
<p>
</p><p><strong>Residential PV</strong></p>
<p><strong>1,231 MWdc installed in 2014, representing 51 percent annual growth over 2013 </strong></p>
<p>2014 marked the third consecutive year of greater than 50 percent annual growth in the residential solar market, with over 186,000 individual installations completed during the year.</p>
<p>While California remains by far the dominant source of residential solar demand, Q4 2014 was the first quarter since early 2013 during which more than half of all residential solar in the U.S. came from other states. This has been a slow but consistent trend throughout 2014, with states such as Massachusetts, New York, Maryland and others growing even faster than California.</p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-1-ShareofResidentialPVInstallationsCalvsuS.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-1-ShareofResidentialPVInstallationsCalvsuS.png" style="width: 500px; height: 336px;" /></a></p>
<p><strong>Non-Residential PV</strong></p>
<p><strong>1,036 MWdc installed overall in 2014, down 6 percent from 2013</strong></p>
<p>The non-residential market jumped 28% in Q4 2014 versus the previous quarter, but this number was insufficient to keep the market from having its first down year in recent history. As we discuss further in the full report, the non-residential market has proven much harder to scale, and has been much more sensitive to incentive reduction, than the residential market. And while a few major state markets (Massachusetts, New York, California and Maryland) did grow in 2014, this expansion was offset by significant downturns in New Jersey, Arizona and Hawaii.</p>
<p>We remain confident that the non-residential market will see a resumption of growth in 2015. A wide range of states are poised to have a stronger year, while some of the incumbent markets (most notably New Jersey) appear to have hit their nadir.</p>
<p><strong>Utility PV</strong></p>
<p><strong>3,934 MWdc installed overall in 2014, up 38 percent from 2013</strong></p>
<p>The utility PV sector continues to remain the bedrock of demand within the U.S. solar market, accounting for 63% of all PV capacity brought on-line in 2014. Most notably, First Solar’s Topaz Solar and Desert Sunlight projects, each 550 MWac, achieved full commercial operation at the end of 2014, ranking as the largest solar projects currently on-line in the world.</p>
<p>In addition to being a record year in terms of installation growth, 2014 was a busy period for project developers as utilities ramped up procurement opportunities to optimize the number of projects eligible to come on-line before the federal ITC is scheduled to drop at the end of 2016.</p>
<p>This rush was not only born out of the necessity of meeting RPS obligations, but also due to utility PV’s growing economic competitiveness in the broader electricity market. As mentioned, by year’s end, more than 4 GWdc of centralized PV capacity had been procured by utilities based on solar’s competitiveness with natural-gas alternatives. Looking ahead to the rest of 2015, we expect utility procurement efforts to slow down, as developers double down on efforts to complete ambitious project pipelines before the end of 2016.</p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-2-UtilityPVContractedPipelineQ12013-Q42014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-2-UtilityPVContractedPipelineQ12013-Q42014.png" style="width: 500px; height: 418px;" /></a></p>
<h3>2.1.2. Full Report Excerpt | California Residential PV: The Epicenter of Market Maturity</h3>
<p>In 2014, California once again reigned supreme as the largest residential state market in the U.S. – adding well over half a gigawatt for the first time on an annual basis. As analyzed further in the full report, rebate funding offered by the California Solar Initiative has fully depleted for residential installations. Given that, three key factors fueled California’s continued momentum in 2014. </p>
<ul><li><strong>Scale via geographic diversification:</strong> This past year saw numerous in-state and national installers ramp up sales footprints from one to two utility service territories, especially those with a longstanding, exclusive presence in either SDG&amp;E or SCE’s markets. As Figure 2.3 illustrates, installers have undertaken unprecedented geographic diversification over the last 24 months. More than 70 towns and cities in Southern California added at least 1 MW of residential solar in 2014, a milestone that only 22 cities had achieved two years prior. </li>
</ul><p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-3-CitiiesinSoCalInstalled1MWorMoreofResPVAnnually2010-2014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-3-CitiiesinSoCalInstalled1MWorMoreofResPVAnnually2010-2014.png" style="width: 500px; height: 418px;" /></a></p>
<ul><li><strong>Above-average electricity bill hikes spurred higher sales:</strong> In the summer of 2014, the CPUC approved retail rate hikes for customers of IOU utilities who use less energy, which in turn expanded the pool of customers willing to install solar in California, an option offering savings of 10% to 20% on their monthly bills.</li>
<li><strong>Standardizing financing and installation solutions: </strong>The diversification of homeowner financing solutions, including PACE and solar loans, has scaled up closing rates for customers eager to own rooftop solar rather than signing a lease or PPA. On top of that, installers are speeding up sales-to-installation timelines by tapping into communities with over-the-counter permitting processes.</li>
</ul><p>In 2015, California will be the first state to add more than 200 MWdc of residential installations in a given quarter. Based on the continued availability of third-party financing solutions, along with the increasing penetration of PACE and other loan products, California’s market remains well positioned to sustain its rank as the top residential state market. But amidst this continued growth, for the first time since its passage, AB 327 (which will create a net energy metering successor program, among other things) is already having a material impact on demand for residential solar within the state. In particular, certain installers are pushing to expedite sales through the first half of 2015, due to concerns that the aggregate NEM capacity limit could be reached by Q4 2015 or early 2016. Once the cap is reached, the next version of NEM is scheduled to take effect, although decisions regarding NEM rule revisions could be announced by the CPUC as late as December 2015. </p>
<h2>2.2. National Solar PV System Pricing</h2>
<p>Our bottom-up system-price estimation methodology is based on tracked wholesale pricing of major solar components and data collected from major installers, with national average pricing supplemented by data collected from utility and state programs. The full report contains cost buildup, as well as reported system pricing from state and utility incentive programs.</p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-4-USNatlAverageSystemCostsbyMarketSegment.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-4-USNatlAverageSystemCostsbyMarketSegment.png" style="width: 500px; height: 418px;" /></a></p>
<p>System costs dropped by 9 percent to 12 percent over the course of 2014, depending on the market segment. While specific cost reduction areas vary depending on market segment, competition amongst hardware suppliers, more efficient installation and operations, industry scale and more aggressive bidding have driven costs down across the board – even as PV module costs remained relatively stable. Total installation costs for utility and large commercial systems have fallen below $2.00/Wdc and are now below 2011 module costs, underscoring the magnitude of the impact of falling module prices and incremental balance-of-system reductions. </p>
<h3>2.2.1. National Residential System Pricing</h3>
<p><em>Note: Detailed breakdowns of national residential system prices by market segment and component are <a href="http://www.greentechmedia.com/research/ussmi">available in the full report</a>.</em></p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-5-ResidentialTurnkeyRooftopPVSystemInstalledCostsQ12014-Q42014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-5-ResidentialTurnkeyRooftopPVSystemInstalledCostsQ12014-Q42014.png" style="width: 500px; height: 418px;" /></a></p>
<p>Our model shows weighted national residential system costs at $3.48/Wdc in the fourth quarter, representing a 3.3 percent decrease quarter-over-quarter. Best-in-class installers are achieving lower costs by leaning on high installation volumes that allow the purchase of hardware directly from manufacturers, as well as by amortizing overhead costs over a larger installation base. </p>
<p>On an absolute basis, the residential PV market has seen the sharpest cost declines of the three market segments. Weighted average pricing in the segment fell by $0.40/Wdc from 2013, despite increases in both module pricing and average inverter pricing (from a larger proportion of residential systems using module-level power electronics).</p>
<p>While soft costs still make up 60 percent of system costs, tremendous cost-reduction efforts resulted in more efficient installations and operations throughout 2014. In fact, hardware component manufacturers are focusing on the effect of hardware on logistical effort and installation times as much as they are on manufacturing efficiencies. Still, significant opportunities to reduce costs remain; we have found that the share of customer acquisition costs have fallen by only 0.4 percent in the past year (from 12 percent of total system costs to 11.6 percent of total systems costs). Furthermore, we have not seen a strong correlation between customer acquisition cost reduction and the size of the solar company, suggesting that customer acquisition is an industry-wide challenge.</p>
<h2>2.3. National Non-Residential System Pricing</h2>
<p><em>Note: Detailed breakdowns of national residential system prices by market segment are <a href="http://www.greentechmedia.com/research/ussmi">available in the full report</a>.</em></p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-6-ResidentialTurnkeyRooftopPVSystemInstalledCostsQ12014-Q42014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-6-ResidentialTurnkeyRooftopPVSystemInstalledCostsQ12014-Q42014.png" style="width: 500px; height: 418px;" /></a></p>
<p>Our modeled cost for a medium-scale commercial system is $2.25/Wdc for the fourth quarter of 2014, with a full-year blended average of $2.36/Wdc. This represents a 20 percent decrease year-over-year, with significant reductions in the structural balance-of-system costs. as well as more competitive pressure on margins throughout the value chain. Similar to residential systems, these overhead and soft costs represent a significant share of the overall project cost structure and could be reduced if the market scales up. </p>
<h2>2.4. National Utility System Pricing</h2>
<p><em>Note: Detailed breakdowns of national residential system prices by market segment are <a href="http://www.greentechmedia.com/research/ussmi">available in the full report</a>.</em></p>
<p>Modeled costs of a fixed-tilt utility system land at $1.55/Wdc in the fourth quarter of 2014, reflecting a significant drop from last quarter’s $1.66/Wdc pricing. In particular, we have witnessed strong pressure on racking pricing, with the lowest costs under $0.10/Wdc.</p>
<p>We also find that costs for systems installed in Q4 2014 came in as low as $1.40/Wdc and as high as $2.10/Wdc. Low pricing reflects strong competition in new markets with low labor pricing, such as those in the Southeast U.S. High pricing reflects systems with legacy PPAs and higher-cost labor and components.</p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-7-UtilityTurnkeyPVSystemTurnkeyPricingQ12014-Q42014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-7-UtilityTurnkeyPVSystemTurnkeyPricingQ12014-Q42014.png" style="width: 500px; height: 418px;" /></a></p>
<h2>2.5. Component Pricing</h2>
<h3>2.5.1. Polysilicon, Wafers, Cells and Modules</h3>
<p>Blended pricing for polysilicon was up year-over-year, increasing 21 percent to $21.5/kg in Q4 2014. This increase was driven by both polysilicon demand recovery in 2014 and favorable supply-demand dynamics. In contrast to dramatic polysilicon price growth, end-of-year multi wafer prices were even with 2013 year-end levels, at $0.22/W. Multi cells were the one component in which prices fell, down 25 percent Y/Y to $0.32/W.</p>
<p>It should be noted that following the U.S. imposition of antidumping duties on Taiwanese cells and modules, Chinese producers largely switched from using Taiwanese cells in U.S.-bound modules to using Chinese cells. Previously, prices for Taiwanese-produced cells were relevant to determining the price for a U.S.-bound Chinese-produced module (Q2 2012-Q3 2014), whereas prices and tariffs on Chinese-produced cells now drive module prices.</p>
<p>Module pricing in the U.S. differs widely based on order volume, producer region and individual firm. During the fourth quarter, delivered prices for Chinese modules ranged from $0.69/W on the low side (corresponding to order volumes greater than 10 MW) to $0.73/W on the high side (order volumes of less than 1 MW). The blended delivered price for Chinese-produced multi modules is estimated to have risen 1 percent Y/Y to $0.73/W in Q4 2014. This upward trend contrasts with the downward global module price trend and was driven by the United States’ unique price driver: the imposition of new tariffs on Chinese and Taiwanese produced modules. Pricing for delivered American modules, as well as modules from the other Asian countries (Korea, Malaysia, Singapore) selling into the residential and commercial sector were in the low- to mid- $0.80/W range, largely in sync with price levels throughout the year.</p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-8-USPolysiliconWaferCellModulePricesQ42013-Q42014.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-8-USPolysiliconWaferCellModulePricesQ42013-Q42014.png" style="width: 500px; height: 213px;" /></a></p>
<h2>2.6. Market Outlook</h2>
<p>We expect another strong year for the U.S. PV market in 2015, with installations reaching 8.1 GW<sub>dc</sub>, a 31 percent increase over 2014. The fastest growth will come from the residential segment, followed by the non-residential segment. Utility PV will grow the slowest compared to 2014, but will still account for 59% of all installations brought on-line.</p>
<p>On January 1, 2017, the 30 percent federal investment tax credit (ITC) is scheduled to drop to 10 percent for commercial projects under section 48 of the tax code, while the credit for individuals under section 25d is scheduled to expire entirely. Businesses across the solar energy industry have begun preparing for the worst while hoping for the best. In general, solar businesses will try to bring as much capacity online as possible before the scheduled stepdown. Solar development will continue, but some markets will fare better than others and resumption of growth after 2017 will look different from the growth seen over the past eight years. For all market segments, the total addressable market will shrink post-2016, some states will fall off the solar map entirely, and resumption of growth at a national level will be due to several states with strong economics.</p>
<p>The utility-scale market shows the most dramatic drop in 2017 not only because of the challenges posed by the lower ITC, but also because project developers have largely turned their attention to bringing their contracted projects online before the end of 2016 in order to capture the full 30 percent credit. Many of these projects have long-term PPAs that begin in 2017 or later but will sell electricity either through short-term PPAs or on the spot market to bridge the gap between their commercial operation date and the beginning of their long-term PPAs. This pull-in of the utility solar pipeline will make the ITC cliff dramatic. Overall, installations are expected to drop 57 percent in 2017.</p>
<p><em>Forecast details by state (32 states) and market segment through 2020 are <a href="http://www.greentechmedia.com/research/ussmi">available in the full report</a>.</em></p>
<p style="text-align: center;"><a href="https://www.seia.org/sites/default/files/2-9-2-10-USPVInstallationForecastandbySegment2010-2020E.png#overlay-context=/research-resources/solar-market-insight-report-2014-q4" rel="lightbox"><img alt="" src="https://www.seia.org/sites/default/files/2-9-2-10-USPVInstallationForecastandbySegment2010-2020E.png" style="width: 500px; height: 276px;" /></a></p>
<h1>3. Concentrating Solar Power</h1>
<p>The final quarter of 2013 kicked off the first wave of mega-scale CSP projects to be completed over the next few years, and Q1 2014 built on that momentum with 517 MWac brought on-line. This included BrightSource Energy’s 392 MWac Ivanpah project and the second and final 125 MWac phase of NextEra’s Genesis solar project. While Q2 2014 and Q3 2014 were dormant for CSP, Abengoa finished commissioning its 250 MWac Mojave Solar project in December 2014. As a result, 2014 ranks as the largest year ever for CSP, with 767 MWac brought on-line. The next notable project slated for completion is SolarReserve’s 110 MWac Crescent Dunes project, which entered the commissioning phase in February 2014 and is now expected to become fully operational before the end of March 2015.</p>
<p>In 2016, growth prospects for the CSP market in the U.S. are bleak. On one hand, CSP when paired with storage represents an attractive generation resource for utilities, offering a number of ancillary and resource adequacy benefits. However, due to extensive permitting hurdles that have confronted CSP projects, developers are putting their CSP pipelines on hold given the short window to bring projects online before the federal ITC is scheduled to expire at the end of 2016. Most notably, Abengoa’s Palen Solar project, BrightSource’s Hidden Hills project, and SolarReserve’s Rice Solar project are all delayed indefinitely. </p>
<p>Beyond 2016, the outlook for the CSP market will depend on further progress made towards mitigating early stage development hurdles, lowering hardware costs, and strengthening the ancillary and capacity benefits provided by CSP paired with storage.</p>
<h1>Acknowledgements</h1>
<p><strong>U.S. Solar Market Insight®</strong> is a quarterly publication of GTM Research and the Solar Energy Industries Association (SEIA)®. Each quarter, we collect granular data on the U.S. solar market from nearly 200 utilities, state agencies, installers, and manufacturers. This data provides the backbone of this U.S. Solar Market Insight® report, in which we identify and analyze trends in U.S. solar demand, manufacturing, and pricing by state and market segment. We also use this analysis to look forward and forecast demand over the next five years. All forecasts are from GTM Research; SEIA does not predict future pricing, bid terms, costs, deployment or supply.</p>
<p>References, data, charts or analysis from this executive summary should be attributed to “GTM Research/SEIA: U.S. Solar Market Insight®.”</p>
<p>* Media inquiries should be directed to Mike Munsell (<a href="http://mailto:munsell@gtmresearch.com">munsell@gtmresearch.com</a>) at GTM Research and Ken Johnson (<a href="http://mailto: kjohnson@seia.org">kjohnson@seia.org</a>) at SEIA.</p>
<p>* All figures are sourced from GTM Research. For more detail on methodology and sources, visit <a href="http://www.gtmresearch.com/solarinsight">www.gtmresearch.com/solarinsight</a>.</p>
<p>Our coverage in the U.S. Solar Market Insight reports include 30 individual states and Washington, D.C. However, the national totals reported include all 50 states, Washington, D.C., and Puerto Rico.</p>
<p>Detailed data and forecasts for all 30 states are contained within the full version of this report, available at <a href="http://www.greentechmedia.com/research/ussmi">www.greentechmedia.com/research/ussmi</a>.</p>
<p><strong>AUTHORS</strong></p>
<p><strong>GTM Research</strong></p>
<div>Shayle Kann, Senior Vice President</div>
<div>MJ Shiao, Director of Solar Research</div>
<div>Cory Honeyman, Solar Analyst</div>
<div>Nicole Litvak, Solar Analyst</div>
<div>Jade Jones, Solar Analyst</div>
<div>Leandra Cooper, Research Associate</div>
<p><strong>SEIA</strong></p>
<div>Tom Kimbis, Vice President</div>
<div>Justin Baca, Director of Research</div>
<div>Shawn Rumery, Research Manager</div>
<div>Aaron Holm, Research Analyst</div>
</div>
<div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline inline">
<div class="field-label">Tags</div>
<ul class="field-items comma-separated">
<li>
<a href="/tags/concentrating-solar-power-csp" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Concentrating solar power (CSP)</a> </li>
<li>
<a href="/tags/residential-solar" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Residential Solar</a> </li>
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<a href="/tags/solar-market-insight-smi-market-development" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI) market development</a> </li>
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<a href="/tags/utility-scale-solar-usp" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Utility-Scale Solar (USP)</a> </li>
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<a href="/tags/concentrating-solar-power" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Concentrating solar power</a> </li>
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<a href="/tags/distributed-generation-dg" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Distributed Generation (DG)</a> </li>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
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<a href="/tags/market-researchpolicy-or-economic-analysis" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Market Research/Policy or Economic Analysis</a> </li>
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<a href="/tags/policy-or-economic-analysis" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Policy or Economic Analysis</a> </li>
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<a href="/tags/residential-solar-rate" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Residential Solar Rate</a> </li>
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<a href="/tags/solar-data" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Data</a> </li>
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<a href="/tags/solar-market-insight-smi" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI)</a> </li>
</ul>
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Fri, 06 Mar 2015 19:40:11 +0000fforbush@seia.org10396 at http://www.seia.orghttp://www.seia.org/research-resources/solar-market-insight-report-2014-q4#commentsSolar Market Insight Report 2014 Q3http://www.seia.org/research-resources/solar-market-insight-report-2014-q3
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<p style="line-height: 20.0063037872314px;"><span id="docs-internal-guid-3668271c-3faf-833f-65f0-3082938bae3b"><a href="http://www.greentechmedia.com/research/ussmi">Purchase the full report</a> | <a href="http://www.seia.org/news/united-states-installs-1354-mw-solar-q3-2014">Press Release</a></span></p>
<p dir="ltr" style="line-height: 20.0063037872314px;"><span id="docs-internal-guid-3668271c-3faf-833f-65f0-3082938bae3b">The quarterly SEIA/GTM Research U.S. Solar Market Insight™ report shows the major trends in the U.S. solar industry. Learn more about the </span><a href="http://www.seia.org/research-resources/us-solar-market-insight/about">U.S. Solar Market Insight Report</a>.</p>
<h1 style="line-height: 20.0063037872314px;">Key Figures</h1>
<ul><li>The U.S. installed 1,354 MW<sub>dc</sub> of solar PV in Q3 2014, up 41% over Q3 2013, making it the second-largest quarter for solar installations in the history of the market.</li>
<li>In the first three quarters of this year, 3,966 MW<sub>dc</sub> of PV came on-line, compared to 2,647 MW<sub>dc</sub> in the first three quarters of 2013.</li>
<li>Cumulative operating PV capacity has now eclipsed the 16 GW<sub>dc</sub> mark, thanks to four consecutive quarters in which more than 1 GW<sub>dc</sub> was installed.</li>
<li>For the first time ever, more than 300 MW<sub>dc</sub> of residential PV came on-line in a single quarter and more than 50% residential PV came on-line without any state incentive.</li>
<li>36% of all new electric generating capacity in the U.S. through the first three quarters of 2014 came from solar.</li>
<li>Growth remains driven primarily by the utility solar PV market, which installed 825 MW<sub>dc</sub> in Q3 2014, up from 540 MW<sub>dc</sub> in Q3 2013.</li>
<li>We forecast that PV installations will reach 6.5 GW<sub>dc</sub> in 2014, up 36% over 2013 and more than three times the market size of just three years ago.</li>
<li>Q1 2014 was the largest quarter ever for concentrating solar power, due to the completion of the 392 MW<sub>ac</sub> Ivanpah project and Genesis Solar project’s second phase of 125 MW<sub>ac</sub>. While no CSP plants came on-line in Q3 2014, Abengoa’s Mojave Solar (250 MW<sub>ac</sub>) achieved commercial operation in December 2014.</li>
</ul><h1 style="line-height: 20.0063037872314px;">1. Introduction</h1>
<div><a href="http://seia.us/smi2014q3"><img alt="" src="http://www.seia.org/sites/default/files/download-smi.png" style="margin-right: 10px; margin-left: 10px; color: rgb(0, 116, 189); line-height: 1.538em; width: 150px; height: 218px; float: right;" /></a></div>
<div><span style="line-height: 1.538em;">As of the end of Q3 2014, the U.S. was home to 578,000 individual solar installations on rooftops, parking lots, landfills, deserts and fields. This represents a cumulative 16.1 gigawatts (GWdc) of photovoltaic (PV) generating capacity and 1.4 GWac of concentrating solar power (CSP) capacity, up from 1.2 GWdc of PV and 0.4 GWac of CSP five years ago. What’s more, solar now consistently accounts for a significant share of new electric generating capacity in the U.S. So far this year, solar represents 36% of new generating capacity in the U.S., second only to natural gas.</span></div>
<p><a href="http://www.seia.org/sites/default/files/1-1-NewUSGeneratingCapacitybyFuelType.png" rel="lightbox"><img alt="" height="769" src="http://www.seia.org/sites/default/files/1-1-NewUSGeneratingCapacitybyFuelType.png" width="900" /></a></p>
<p>2014 has been a time of both growth and transition for the U.S. solar market. The growth has come primarily from two segments: residential and utility scale. Both segments are up substantially in 2014, and we anticipate continued strength through the next two years. The non-residential market (i.e., commercial, industrial, government and nonprofit) has essentially been flat for the second year in a row, but shows promise for a resumption of growth in 2015, driven by expansion in California and the emergence of a market in New York. Notably, 2014 is likely to be the first year of the last decade during which there is more residential PV installed than non-residential.</p>
<p><a href="http://www.seia.org/sites/default/files/1-2-ResidentialvsNon-ResidentialPVInstallations_0.png" rel="lightbox"><img alt="" height="769" src="http://www.seia.org/sites/default/files/1-2-ResidentialvsNon-ResidentialPVInstallations_0.png" width="900" /></a></p>
<p>As part of the broader electricity sector, the solar energy market is defined by the policies and regulations set by federal and state governments. From the broadest federal tax policy to the state public utility regulations that define access to the market, policy will remain important to solar even after grid parity is reached in different parts of the country. Among the core political/regulatory forces that will shape the future of the market are:</p>
<ul><li><strong>Investment Tax Credit expiration. </strong>In a little more than two years, on December 31, 2016, the 30% federal Investment Tax Credit, which has been the bedrock incentive for the U.S. solar market, is scheduled to drop to 10% for commercial projects and to zero for directly owned residential projects. Already, developers of utility-scale projects are facing a cliff in 2017 and being forced to accelerate project timelines in order meet the deadline for the 30% credit. Extension of the ITC is SEIA’s top priority, and there is an increasingly loud chorus of voices in the solar industry pushing for extension.</li>
<li><strong>Net energy metering and utility rate structures</strong>. Solar advocates were dealt a blow in Wisconsin recently, as that state’s Public Service Commission voted to significantly increase fixed charges on customer bills for Wisconsin’s largest utility. This is a rare defeat for solar among early NEM- or rate-related debates, and many proceedings on the issue are still ongoing.</li>
<li><strong>Greenhouse gas regulation and solar market impact</strong>. Over the next few years, individual states will have to develop plans to meet proposed EPA standards for carbon emissions in the power sector under Section 111(d) of the Clean Air Act. These compliance plans could present myriad new opportunities for solar toward the end of this decade, depending on how they are structured, and SEIA, along with solar companies with a long-term view, is actively engaged in the rulemaking process.</li>
</ul><p>In the meantime, as policies and regulations shift, the solar market continues to grow. We anticipate 6.5 GW<sub>dc</sub> of solar PV installations this year, 36% more than last year’s total. Additionally, 2014 is set to be the largest year in history for concentrated solar power (CSP), with a total of 767 megawatts (MW<sub>ac</sub>) coming on-line. </p>
<h1 style="line-height: 20.0063037872314px;">2. Photovoltaics</h1>
<h2>2.1. Installation Overview</h2>
<p>The U.S. installed 1,354 MW<sub>dc</sub> of solar PV in Q3 2014, up 8% over Q2 2014 and 41% over Q3 2013. This marked the fourth consecutive quarter with more than 1 GW of installations, as well as the most stable overall three-quarter period in the market’s recent history. As has been the case for the past two years, the utility market made up the largest portion of the market (61%). In the distributed solar market, a stark divergence has appeared: while the residential market continues to see strong growth (up 13% Q/Q and 58% Y/Y), the non-residential market has struggled (down 19% Q/Q and 3% Y/Y).</p>
<p><a href="http://www.seia.org/sites/default/files/2-1-USPVInstallationsQ1-Q3_0.png#overlay-context=research-resources/solar-market-insight-report-2014-q3" rel="lightbox"><img alt="" height="653" src="http://www.seia.org/sites/default/files/2-1-USPVInstallationsQ1-Q3_0.png" width="900" /></a></p>
<p><a href="http://www.seia.org/sites/default/files/2-2-Q3PVInstallationsByState.png" rel="lightbox"><img alt="" height="1055" src="http://www.seia.org/sites/default/files/2-2-Q3PVInstallationsByState.png" width="900" /></a></p>
<h3>2.1.1 Market Segment Trends</h3>
<h5>Residential PV</h5>
<ul><li>Up 13% over Q2 2014</li>
<li>Up 58% over Q3 2013</li>
</ul><p>For the first time ever, the residential market exceeded the 300 MWdc mark in a single quarter. Growth occurred both in California (11% quarterly growth and 52% of the national market) and across the rest of the market (16% growth and 48% of the national market). Third-party-owned (TPO) residential PV systems continue to be an attractive option for many homeowners, driving anywhere from 67% (New York) to 92% (New Jersey) of residential installations in state markets where it is available. However, Arizona and California have experienced a gradually declining TPO market share over the past year as 1) an increasing number of installers have begun to offer loans and 2) the cost of solar has come down enough that more customers can afford to pay in cash.</p>
<h5>Non-Residential PV</h5>
<ul><li>Down 19% from Q2 2014</li>
<li>Down 3% from Q3 2013</li>
</ul><p>The non-residential market appears poised for another virtually flat year. After growing 3% on an annual basis in 2013, the first three quarters of 2014 have shown 4% growth year-over-year. In both years, there have been clear bright spots in the non-residential market, but they have largely been countered by another major market in decline. In 2014, Massachusetts has been the growth story, with 179 MWdc installed through three quarters (up from 77 MWdc in the same period last year), but New Jersey and California have combined for a 79 MWdc decline in the pace of installations versus 2013. Whereas the residential market has shown widespread resiliency against the reduction or, in some cases, the expiration of state incentive programs, the non-residential market remains reliant on these incentives in the vast majority of cases. As a result, low SREC prices (as in New Jersey) or expiring production-based incentives (as in California) have dampened demand.</p>
<h5>Utility PV</h5>
<ul><li>825 MWdc installed in Q3 2014</li>
<li>Drove more than 50% of national PV installations for the sixth straight quarter</li>
</ul><p><a href="http://www.seia.org/sites/default/files/2-3-UtilityPVPipeline.png" rel="lightbox"><img alt="" height="822" src="http://www.seia.org/sites/default/files/2-3-UtilityPVPipeline.png" width="900" /></a></p>
<p>In Q3 2014, the U.S. installed 825 MWdc of utility PV from 67 individual projects and project phases. This makes Q3 2014 the third-largest quarter ever for utility PV in the U.S.</p>
<p>The market continues to benefit from the expedited build out of the contracted pipeline, ahead of the federal ITC’s scheduled drop to 10% at the end of 2016. The majority of this capacity (528 MWdc) came from the four largest projects, three of which were developed in California.</p>
<p>In addition to these mega-scale projects, North Carolina posted its second-largest quarter for utility PV installations with 94 MWdc installed, as developers ramped up build rates to bring their pipelines on-line before the 35% state tax credit expires at the end of 2015. Meanwhile, First Solar completed the first merchant solar project in the U.S., a 23 MWdc project in Texas that sells power into a wholesale power market rather than selling power to a utility via a power-purchase agreement (PPA). The completion of the first merchant solar project in the U.S. is a symbol of utility PV’s growing economic competitiveness in the broader electricity market. As discussed in greater detail in the full report, the past 18 months have seen 4 GWdc of utility PV land PPAs with utilities at prices competitive with or below the cost of natural gas alternatives. </p>
<h3>2.1.2. Full Report Excerpt | California: Record Growth in a Post-Incentive Market</h3>
<p>Despite the gradual, now-full depletion of residential rebates offered by the California Solar Initiative (CSI), California’s residential market has grown by at least 50% year-over-year every quarter since Q1 2013. With state incentives now a secondary driver of demand across the territories of the investor-owned utilities, the conversation surrounding why California’s market continues to grow is linked to market dynamics driven by retail rate design, installers’ growth strategies, and the diversification and expansion of homeowner financing solutions.</p>
<p>Over the past few months, installers point to the following trends as particularly important drivers of California’s residential market maintaining its highly consistent rate of growth. </p>
<p>Aggressive, concentric growth from both local and national installers: A growing pool of in-state installers are now expanding their sales footprints from one to two utility service territories. This trend holds true for a few installers originally operating on the East Coast that are now ramping up operations within California to further fuel growth. Subsequently, the competitive landscape has become increasingly saturated, with higher numbers of customers considering five to six bids and in some extreme cases, upward of twelve bids in select communities. Despite the increasing competition, both local and national installers maintain the view that Q4 will be the largest quarter to date for California’s residential market.</p>
<p>Installer and legislative-led efforts to trim the duration of the interim between sales pitch and installation: Over the last twelve months, a growing wave of municipalities has collaborated to streamline and expedite the permit approval process in order to cut down on installation timelines. The passage of state bill AB 2188 in September 2014 is expected to further streamline the permitting process statewide, mandating that the permit application approval process last no longer than eight days if the system can qualify for an “expedited review.” In addition, installers are expediting sales-to-installation timelines by tapping into communities with over-the-counter permitting processes, and more importantly, by more aggressively pushing standardized, fixed-price financing solutions to further speed the sales process for customers acquired via referrals. </p>
<p>Beyond 2014, impending revisions to net metering and rate design by way of AB 327 are poised to be primary determinants of residential solar economics in California. The CPUC has until December 2015 to finalize the details of the next net metering program, which will take effect on July 1, 2017 or when each utility hits a predefined capacity limit (whichever occurs first). Based on GTM Research’s outlook for the three investor-owned utilities, however, SDG&amp;E and PG&amp;E are both expected to reach their respective NEM capacity limits by the first half of 2016, making December 2015 a crucial deadline for the CPUC in order to ensure a smooth transition into the next NEM program.</p>
<p><a href="http://www.seia.org/sites/default/files/2-4-AggregateNEMCapacity.png" rel="lightbox"><img alt="" height="829" src="http://www.seia.org/sites/default/files/2-4-AggregateNEMCapacity.png" width="900" /></a></p>
<h2>2.2 National System Pricing</h2>
<p>In the Q1 2014 edition of the U.S. Solar Market Insight report, we introduced a new methodology of capturing and reporting national system pricing. Our previous methodology used weighted average system pricing directly from utility and state incentive programs, but we have long felt that the data was not an ideal reflection of the current state of system pricing, as it often represented system prices quoted well prior to the installation and connection date, and much of the reported data was based on fair-market-value assessments for TPO systems.</p>
<p>Our new bottom-up methodology is based on tracked wholesale pricing of major solar components and data collected from major installers, with national average pricing supplemented by data collected from utility and state programs. Starting with this report, we will no longer be reporting system prices state by state, although we will still continue to display reported system pricing from state and utility incentive programs in the full report.</p>
<h3>2.2.1. National Residential System Pricing</h3>
<p>Note: Detailed information about national system prices by market segment is available in the full report.</p>
<p><a href="http://www.seia.org/sites/default/files/2-5-TurnkeyRooftopPVSystemPricing.png" rel="lightbox"><img alt="" height="871" src="http://www.seia.org/sites/default/files/2-5-TurnkeyRooftopPVSystemPricing.png" width="900" /></a></p>
<p>Our model shows weighted national residential system costs at $3.60/Wdc in the third quarter, representing a 3.8% decrease quarter-over-quarter. Best-in-class installers are achieving lower costs by leaning on high installation volumes that allow the purchase of hardware directly from manufacturers and by amortizing overhead costs over a larger installation base.</p>
<p>Supply chain, customer acquisition, installation labor, overhead and margin, which together constitute the category of “soft costs,” continue to dominate project costs. Customer acquisition costs continue to be a pain point for small and large system installers alike. While smaller installers typically have lower-cost leads – leaning heavily on referrals – gaining significant volumes can be difficult. In contrast, larger installers receive many more qualified leads, but often procure these leads at higher costs (e.g., purchased third-party leads). Data from publicly listed companies and private communications to GTM Research both indicate that customer acquisition costs are typically anywhere between $0.35/Wdc and $0.50/Wdc, with little correlation between the size of the firm and the level of costs.</p>
<h3>2.2.2. National Non-Residential System Pricing</h3>
<p>Note: Detailed information about national system prices by market segment is available in the full report.</p>
<p><a href="http://www.seia.org/sites/default/files/2-6-Non-ResidentialTurnkeyRooftopPVSystemPricing.png" rel="lightbox"><img alt="" height="871" src="http://www.seia.org/sites/default/files/2-6-Non-ResidentialTurnkeyRooftopPVSystemPricing.png" width="900" /></a></p>
<p>Our model shows flat-roof non-residential system costs at $2.27/Wdc, representing a 5% decrease quarter-over-quarter. Major cost declines come from inverter and structural BOS pricing – both challenged industries as commoditization continues to compress margins. The potential for module pricing increases as the result of tariffs on Chinese and Taiwanese module products has also led to system developers and EPCs aggressively pushing inverter and racking manufacturers to adopt lower prices.</p>
<h3>2.2.3. National Utility System Pricing</h3>
<p>Note: Detailed information about national system prices by market segment is available in the full report.</p>
<p>Unlike residential and non-residential systems, utility system pricing is rarely reported. As a result, our national capacity-weighted average incorporates publicly reported pricing where available, as well as input from utility developers and EPCs. National weighted-average system pricing for utility systems in Q3 2014 came in at $1.88/Wdc, a 3.8% increase from Q2 2014, reflecting a higher proportion of systems installed in higher-cost regions and an increase of single-axis tracking systems.</p>
<p>We also find that costs for systems installed in Q3 2014 came in as low as $1.55/W<sub>dc</sub> and as high as $2.10/W<sub>dc</sub>. Low pricing reflects strong competition in new markets that has pushed component and EPC margins significantly downward. High pricing reflects systems with legacy PPAs and higher-cost components like single-axis tracking.</p>
<p>In this iteration, we add bottom-up modeled costs for single-axis tracking systems, which come in at $1.88/Wdc – a 12% premium over modeled fixed-tilt systems. While there are additional structural, electrical, labor and site-related costs for one-axis tracking systems, the premiums are often offset by larger gains in system performance, as well as by peak pricing mechanics. Increased competition among utility racking manufacturers entering the single-axis tracking space has driven pricing reductions of nearly 20% from the previous year.</p>
<p><a href="http://www.seia.org/sites/default/files/2-7-UtilityTurnkeySingleAxisTrackingPVSystemPricing.png" rel="lightbox"><img alt="" height="871" src="http://www.seia.org/sites/default/files/2-7-UtilityTurnkeySingleAxisTrackingPVSystemPricing.png" width="900" /></a></p>
<h2>2.3. Component Pricing</h2>
<h3>2.3.1. Polysilicon, Wafers, Cells and Modules, Q3 2014</h3>
<p>Pricing for polysilicon and PV components fell quarter-over-quarter in the third quarter of 2014. Polysilicon price adjustments were slight as polysilicon demand remained strong, prices falling only 1% sequentially to $21.70/kg. In contrast, demand for wafers fell during the quarter, driving prices down 4% to $0.22/Wdc. However, the most dramatic drop was the decline in Taiwanese cell spot prices. Following the U.S. imposition of antidumping duties on Taiwanese cells and modules, Taiwanese cell spot prices plummeted from $0.44/Wdc in Q2 to $0.34/Wdc in Q3. Since duties spanned from 20.86% to 27.59%, final prices in the U.S. hovered around $0.41/Wdc in Q3.</p>
<p>Module pricing in the U.S. differs widely based on order volume, producer region and individual firm. During the third quarter, delivered prices for Chinese modules ranged from $0.72/Wdc on the low side (corresponding to order volumes greater than 10 MWdc for less established firms) to $0.75/W on the high side (established, bankable firms, order volumes of less than 1 MWdc). Blended delivered pricing for Chinese modules is estimated to have stayed flat at $0.73/W for the third straight quarter, up 4% from Q3 last year. Pricing by firms in the U.S. and other Asian countries (Korea, Malaysia, Singapore) selling into the residential and commercial sector were in the range of low to mid $0.80/Wdc, largely in sync with price levels throughout the year.</p>
<p><a href="http://www.seia.org/sites/default/files/2-8-PolysiliconWaferCellModulePrices.png" rel="lightbox"><img alt="" height="475" src="http://www.seia.org/sites/default/files/2-8-PolysiliconWaferCellModulePrices.png" width="900" /></a></p>
<h2>2.4. Market Outlook</h2>
<p>We expect another strong year for the U.S. PV market in 2014, with installations reaching 6.5 GWdc, a 36% increase over 2013. The fastest growth will come from the residential segment (49% year-over-year), followed by the utility segment (45%). Most notably, we revised our non-residential forecast for 2014 downward to just 1.4% growth, primarily due to incentive depletion hampering growth in Arizona and California and SREC oversupply in New Jersey resulting in rock-bottom build rates.</p>
<p>Forecast details by state (31 states) and market segment through 2018 are available in the <a href="http://www.greentechmedia.com/research/ussmi">full report</a>.</p>
<p><a href="http://www.seia.org/sites/default/files/2-9-2-10-PVInstallationForecast.png" rel="lightbox"><img alt="" height="573" src="http://www.seia.org/sites/default/files/2-9-2-10-PVInstallationForecast.png" width="900" /></a></p>
<p><a href="http://www.seia.org/sites/default/files/2-11-PVInstallationForecastMap.png" rel="lightbox"><img alt="" height="655" src="http://www.seia.org/sites/default/files/2-11-PVInstallationForecastMap.png" width="900" /></a></p>
<h1 style="line-height: 20.0063037872314px;">3. Concentrating Solar Power</h1>
<p><span style="line-height: 1.538em;">The final quarter of 2013 kicked off the first wave of mega-scale CSP projects to be completed over the next few years, and Q1 2014 built on that momentum with 517 MWac brought on-line. This includes BrightSource Energy’s 392 MWac Ivanpah project and the second and final 125 MWac phase of NextEra’s Genesis solar project. While Q2 2014 and Q3 2014 were dormant for CSP, Abengoa finished commissioning its 250 MWac Mojave Solar project in December 2014. Although no additional projects are expected to come on-line this year, 2014 ranks as the largest year ever for CSP with 767 MWac brought on-line. The next notable project slated for completion is SolarReserve’s 110 MWac Crescent Dunes project, which entered the commissioning phase in February 2014 and is now expected to become fully operational in February 2015. Major CSP project development highlights in Q3 2014 can be found in the following table.</span></p>
<p><a href="http://www.seia.org/sites/default/files/3-1-SelectCSPDevelopmentHighlights.png" rel="lightbox"><img alt="" height="782" src="http://www.seia.org/sites/default/files/3-1-SelectCSPDevelopmentHighlights.png" style="line-height: 1.538em;" width="900" /></a></p>
<div style="line-height: 20.0063037872314px;">
<h1>Acknowledgments</h1>
<p><strong style="line-height: 1.538em;">U.S. Solar Market Insight<sup>®</sup></strong><span style="line-height: 1.538em;"> is a quarterly publication of GTM Research and the Solar Energy Industries Association (SEIA)</span><sup>®</sup><span style="line-height: 1.538em;">. Each quarter, we collect granular data on the U.S. solar market from nearly 200 utilities, state agencies, installers, and manufacturers. This data provides the backbone of this U.S. Solar Market Insight</span><sup>®</sup><span style="line-height: 1.538em;"> report, in which we identify and analyze trends in U.S. solar demand, manufacturing, and pricing by state and market segment. We also use this analysis to look forward and forecast demand over the next five years. All forecasts are from GTM Research; SEIA does not predict future pricing, bid terms, costs, deployment or supply.</span></p>
</div>
<div style="line-height: 20.0063037872314px;">
<p style="margin-left: 0.1in;">* References, data, charts or analysis from this executive summary should be attributed to “GTM Research/SEIA: U.S. Solar Market Insight<sup>®</sup>.”</p>
<p style="margin-left: 0.1in;">* Media inquiries should be directed to Mike Munsell (<a href="mailto:munsell@gtmresearch.com">munsell@gtmresearch.com</a>) at GTM Research and Ken Johnson (<a href="mailto:kjohnson@seia.org">kjohnson@seia.org</a>) at SEIA.</p>
<p style="margin-left: 0.1in;">* All figures are sourced from GTM Research. For more detail on methodology and sources, visit <a href="http://www.gtmresearch.com/solarinsight">www.gtmresearch.com/solarinsight</a>.</p>
<p><span style="line-height: 1.538em;">Our coverage in the U.S. Solar Market Insight reports include 30 individual states and Washington, D.C. However, the national totals reported include all 50 states, Washington, D.C., and Puerto Rico.</span></p>
<p>Detailed data and forecasts for all 30 states are contained within the full version of this report, available at <a href="http://www.greentechmedia.com/research/ussmi">www.greentechmedia.com/research/ussmi</a>.</p>
<p><strong style="line-height: 1.538em;">AUTHORS</strong></p>
<p><strong>GTM Research</strong></p>
<p style="line-height: 20.0063037872314px;">Shayle Kann, Senior Vice President</p>
<p style="line-height: 20.0063037872314px;"><span style="line-height: 1.538em;">MJ Shiao, Director of Solar Research</span></p>
<p style="line-height: 20.0063037872314px;"><span style="line-height: 1.538em;">Shyam Mehta, Lead Upstream Analyst</span></p>
<p><span style="line-height: 1.538em;">Cory Honeyman, Solar Analyst</span></p>
<p>Nicole Litvak, Solar Analyst</p>
<p><span style="line-height: 20.0063037872314px;">Jade Jones, Solar Analyst</span></p>
<p><strong style="line-height: 1.538em;">SEIA</strong></p>
<p>Tom Kimbis, Vice President</p>
<p>Justin Baca, Director of Research</p>
<p>Shawn Rumery, Research Manager</p>
<p>Aaron Holm, Research Analyst</p>
</div>
<p> </p>
</div>
<div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline inline">
<div class="field-label">Tags</div>
<ul class="field-items comma-separated">
<li>
<a href="/tags/residential-solar" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Residential Solar</a> </li>
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<a href="/tags/solar-market-insight-smi-market-development" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI) market development</a> </li>
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<a href="/tags/utility-scale-solar-usp" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Utility-Scale Solar (USP)</a> </li>
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<a href="/tags/concentrating-solar-power" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Concentrating solar power</a> </li>
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<a href="/tags/distributed-generation-dg" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Distributed Generation (DG)</a> </li>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
<li>
<a href="/tags/market-researchpolicy-or-economic-analysis" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Market Research/Policy or Economic Analysis</a> </li>
<li>
<a href="/tags/policy-or-economic-analysis" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Policy or Economic Analysis</a> </li>
<li>
<a href="/tags/residential-solar-rate" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Residential Solar Rate</a> </li>
<li>
<a href="/tags/solar-data" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Data</a> </li>
<li>
<a href="/tags/solar-market-insight-smi" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI)</a> </li>
</ul>
</div>
Fri, 05 Dec 2014 20:31:41 +0000csilver@seia.org9856 at http://www.seia.orghttp://www.seia.org/research-resources/solar-market-insight-report-2014-q3#commentsSolar Market Insight Report 2013 Year in Reviewhttp://www.seia.org/research-resources/solar-market-insight-report-2013-year-review
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Report </div>
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<a href="http://seia.us/1xhHLGW">Download PDF Version</a></div>
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<p dir="ltr"><span id="docs-internal-guid-1bc8a515-796d-d881-6f0c-81ead43ea09a"><a href="http://www.greentechmedia.com/research/ussmi">Purchase the full report</a> | <a href="http://www.seia.org/news/new-report-us-solar-market-grows-41-has-record-year-2013">Press Release</a> | </span><a href="http://www.seia.org/research-resources/solar-industry-data">Fact Sheet</a></p>
<p><span id="docs-internal-guid-1bc8a515-796d-d881-6f0c-81ead43ea09a">The quarterly SEIA/GTM Research U.S. Solar Market Insight™ report shows the major trends in the U.S. solar industry. Learn more about the </span><a href="http://www.seia.org/research-resources/us-solar-market-insight/about">U.S. Solar Market Insight Report</a>.</p>
<h2>1. Introduction</h2>
<p>The U.S. solar industry has much to celebrate about the year 2013. Photovoltaic (PV) installations continued to proliferate, increasing 41% over 2012 to reach 4,751 MW. Solar was the second-largest source of new electricity generating capacity in the U.S., exceeded only by natural gas. And the cost to install solar fell throughout the year, with average system prices ending the year 15% below the mark set at the end of 2012.</p>
<p><a href="http://www.seia.org/sites/default/files/smi-1-1.jpg" rel="lightbox"><img alt="" src="http://www.seia.org/sites/default/files/smi-1-1.jpg" style="line-height: 1.538em; width: 200px; height: 171px; float: right;" /></a>The U.S. solar market showed the first real glimpse of its path toward mainstream status in 2013. The combination of rapid customer adoption, grassroots support for solar, improved financing terms, and public market successes indicated clear gains for solar in the eyes of both the general population and the investment community. And in the long term, a mainstream solar industry will need customers who seek out and support solar, as well as investors who see an attractive risk-adjusted opportunity in the market. </p>
<p>The solar industry also became a major part of a much larger discussion that took center stage in 2013 around the future of electricity and electric utilities. As distributed solar gains steam, and as adjacent technologies such as energy storage become economically viable, the traditional utility business model is increasingly called into question. Throughout the electricity industry, 2013 was the year of catchphrases such as “utility 2.0” and “utility of the future.” Utilities themselves began to stake out positions on all sides of the issue, some seeking to protect their current territory and others investing in distributed generation – capitalizing on the opportunity that comes with change.</p>
<p>If 2013 was about raising the issue, 2014 will be about defining solutions. Increasingly, solar is not bound by its cost, but rather by its role in the electricity sector. And as solar continues along its path toward the mainstream, its integration with the broader electricity market from a technical, market and regulatory perspective will become one of the most important issues in the industry. </p>
<h3>Key Figures</h3>
<ul><li>The U.S. installed 4,751 MW of solar PV in 2013, up 41% over 2012 and nearly fifteen times the amount installed in 2008</li>
<li>There is now a total of 12.1 GW of PV and 918 MW of CSP operating in the U.S.</li>
<li>There were 140,000 individual solar installations in the U.S. in 2013, and a total of over 445,000 systems operating today</li>
<li>Q4 2013 was by far the largest quarter ever for PV installations in the U.S., with 2,106 MW energized, up 60% over the second-largest quarter (Q4 2012)</li>
<li>More solar has been installed in the U.S. in the last eighteen months than in the 30 years prior</li>
<li>The market value of all PV installations completed in 2013 was $13.7 billion </li>
<li>Solar accounted for 29% of all new electricity generation capacity in 2013, up from 10% in 2012. This made solar the second-largest source of new generating capacity behind natural gas.</li>
<li>Weighted average PV system prices fell 15% in 2013, reaching a new low of $2.59/W in the fourth quarter</li>
<li>We forecast 26% PV installation growth in 2014, with installations reaching nearly 6 GW. Growth will occur in all segments, but will be most rapid in the residential market.</li>
<li>The U.S. also installed 410 MW of concentrating solar (CSP) in 2013, increasing total CSP capacity in the U.S. by more than 80%</li>
<li><span style="line-height: 1.538em;">The wave of concentrating solar power installations slated for completion at the end of 2013 into 2014 kicked off with the 280 MWac Solana project and the Genesis Solar project’s initial 125 MWac phase. In early 2014, BrightSource’s notable Ivanpah project also began operating and SolarReserve’s Crescent Dunes began commissioning. </span></li>
</ul><div>
<div style="background:#ebf3e3; padding: 14px 20px; margin-bottom:20px;">
<h3>2013 TOP 10 SOLAR STATES</h3>
<div style="width: 285px; float: right;"><a href="http://www.seia.org/research-resources/2013-top-10-solar-states"><img alt="states ranked by solar capacity" src="http://www.seia.org/sites/default/files/top10-CA.png" style="line-height: 1.538em; width: 300px; float: right;" /></a></div>
<p>We count down the Top 10 Solar States based on solar capacity installed in 2013. California installed half of all the solar capacity it has ever installed in 2013, but Texas, ranked 8th, has enough solar potential it could power the world twice over. What state has the fastest growing solar industry? <a href="http://www.seia.org/research-resources/2013-top-10-solar-states">Find out!</a></p>
</div>
<p>Additional highlights from 2013 in the U.S. solar market include:</p>
<ul><li><strong>Positive Early Signs in NEM Debates: </strong>Disputes between utilities and solar advocates emerged over the issue of net energy metering (NEM) across a variety of markets, ranging from major solar states (e.g., California, Colorado and Arizona) to more nascent solar states (e.g., Utah, Idaho, Louisiana and Georgia). Broadly speaking, the solar market has remained unscathed thus far. But the next two years will bring both new venues for NEM debates and longer-term decisions in the existing battlegrounds.<br /> </li>
<li><strong>Financial Innovatio</strong>n: After years of discussion and speculation, a number of new financing mechanisms for solar emerged in 2013. NRG Energy took its first YieldCo public, generating a tradable, dividend-producing security that contains both utility-scale and rooftop solar projects, as well as fossil fuel assets. SolarCity successfully launched the first distributed solar securitization, worth $54 million. Opportunities for consumers to invest in solar via crowdfunding or community solar gained new prominence.<br /> </li>
<li><strong style="line-height: 1.538em;">Cost Reduction</strong><span style="line-height: 1.538em;">: PV module prices increased slightly in 2013, the first annual price increase since 2008. However, prices fell substantially for other components such as inverters (which decreased by 15% to 18%) and racking systems (19% to 24%). In addition, a range of other factors including downstream innovations drove down overall system prices throughout the year in all market segments. By the end of the year, system prices had fallen 9% in the residential market, 16% in the non-residential market and 14% in the utility market.</span><br /> </li>
<li><strong style="line-height: 1.538em;">A New U.S.-China Trade Case</strong><span style="line-height: 1.538em;">: On December 31, 2013, SolarWorld Industries filed a new antidumping/countervailing duty petition before the U.S. International Trade Commission. This petition seeks to prevent Chinese module manufacturers from using Taiwanese crystalline PV cells to avoid paying the import tariffs on modules with Chinese cells that were imposed after SolarWorld’s initial petition, filed in October 2011. Under the previous ruling, Chinese module manufacturers can produce solar wafers in China, ship them to Taiwan for cell manufacturing, and then send them back to China for module assembly to avoid U.S. import tariffs of more than 30%. While the outcome of this case remains in question, it is likely to reshape the U.S. solar market in some fashion. [See the Full Report for more details, or visit </span><a href="http://www.seia.org/policy/manufacturing-trade/international-trade" style="line-height: 1.538em;">http://www.seia.org/policy/manufacturing-trade/international-trade</a><span style="line-height: 1.538em;">.]</span><span style="line-height: 1.538em;"> </span><br /> </li>
<li><strong style="line-height: 1.538em;">California Sees Unparalleled Growth: </strong><span style="line-height: 1.538em;">California alone installed more than half of all solar in the U.S. in 2013. In fact, the state installed more solar in 2013 than the entire country did in 2011. California led the pack in each market segment and saw a doubling of installations in both the residential and utility segments. Looking to 2014, California shows no signs of slowing down, particularly in the distributed generation market.</span><br /> </li>
<li><strong style="line-height: 1.538em;">The Ascent of North Carolina, Massachusetts and Georgia</strong><span style="line-height: 1.538em;">: While Arizona and New Jersey, historically the second- and third-largest state solar markets, faltered in 2013, three states in particular emerged to fill the gap. North Carolina grew 171% over 2012 to install 335 MW, Massachusetts grew 76% to install 237 MW, and Georgia grew 762% to install 91 MW in 2013.</span><br /> </li>
<li><strong style="line-height: 1.538em;">The Realized Promise of Centralized Solar</strong><span style="line-height: 1.538em;">: The U.S. installed over 2.8 GW of utility solar in 2013, up 58% over 2012. Eleven individual projects of more than 50 MW each were completed in 2013, more than in any other year. Together, Arizona, California, and North Carolina accounted for 87% of all utility PV installations.</span></li>
</ul></div>
<h2>2. Photovoltaics</h2>
<h3>2.1 Installations</h3>
<p>The U.S. installed 4,751 MW of PV in 2013, up 41% over 2012. Annual weighted average PV system prices continued to decline in 2013, reaching a historic low of $2.89/W.</p>
<p><img alt="" height="543" src="http://www.seia.org/sites/default/files/smi-2-1.jpg" style="line-height: 1.538em;" width="646" /><img alt="" height="470" src="http://www.seia.org/sites/default/files/Figure2-2.jpg" style="line-height: 1.538em;" width="720" /><span style="line-height: 1.538em;">Of the 4,751 MW installed in 2013, 2,106 MW (44%) came in the fourth quarter. This makes Q4 2013 by far the largest quarter in the history of the U.S. market, exceeding the second-largest quarter by 60%. This end-of-year boom came from all market segments, but was particularly strong in the utility market, which saw over 1.4 GW installed across fifteen states in Q4.</span></p>
<p>The fourth quarter boom experienced in 2013 is consistent with previous years. The U.S. market tends to see a significant jump in installations at the end of the year, regardless of whether there are major incentives that are expiring. This seasonality was observed in the distributed generation market, where 35% of annual 2013 installations took place in Q4, but it was particularly pronounced in the utility market, where 51% of annual installations were completed in Q4. </p>
<p><img alt="" src="http://www.seia.org/sites/default/files/Figure2-3-2-4.jpg" style="line-height: 1.538em;" /><img alt="" height="494" src="http://www.seia.org/sites/default/files/Figure2-5.png" style="line-height: 1.538em;" width="727" /><img alt="" height="925" src="http://www.seia.org/sites/default/files/Figure2-6.png" style="line-height: 1.538em;" width="725" /></p>
<h3> </h3>
<h3>2.1.1. Market Segment Trends</h3>
<div><img alt="" height="504" src="http://www.seia.org/sites/default/files/Figure2-7.png" width="723" /></div>
<h3>Residential</h3>
<p>792 MW installed in 2013, representing 60% annual growth.</p>
<p>Over the past three years, the U.S. residential solar market has been distinguished by its remarkably consistent incremental growth. On a national level, residential solar has steadily gained steam as homeowner financing options (leases, loans, and PPAs) become more widely available, system costs continually decline, and market participants innovate. Some of the most impactful developments in 2013 included:</p>
<ul><li><strong style="line-height: 1.538em;">Evolving Channel Strategies </strong><span style="line-height: 1.538em;">– Residential solar installers and originators spent much effort in 2013 honing their strategies to reach customers. Some announced new retail partnerships (e.g., with Home Depot, Toyota), while others linked up with electricity retailers or local service professionals. We expect to see further diversification of sales channels in 2014, including a number of new partnerships with electricity suppliers, the entry of cable and other home service providers, and potentially an increased role for local banks in solar sales.</span><br /> </li>
<li><strong style="line-height: 1.538em;">Financial Innovation</strong><span style="line-height: 1.538em;"> – Though its immediate impact is small, the long-term impact of SolarCity’s first securitization of distributed solar assets is likely to be huge. Securitizing pools of residential solar assets can both lower the cost of capital and increase its availability – removing two of the primary historical barriers to growth in the residential sector. In 2014, another residential system owner will almost certainly securitize its own portfolio and, if all goes according to plan, yields on these pools will begin to decrease. </span></li>
</ul><p>Most notable about 2013 was the Q4 boom, in which installations jumped 33% over the previous quarter – the largest quarterly increase in recent history. </p>
<p><img alt="" height="600" src="http://www.seia.org/sites/default/files/Figure2-8.png" style="line-height: 1.538em;" width="723" />This year-end jump, and indeed much of the annual growth, is attributable primarily to California. While the California market has always been the largest for residential solar, its importance has only grown over time, with its market share of national installations increasing from 43% in Q1 2010 to 55% in Q4 2013. As we have noted previously, California is the first major solar market to begin the transition away from state-level incentives. By all accounts, the residential solar market in California shows no signs of slowing down in the near term. Its medium- and long-term potential rests on decisions regarding net energy metering and rate design. </p>
<p><img alt="" height="530" src="http://www.seia.org/sites/default/files/Figure2-9.png" width="723" /></p>
<h3>Non-Residential</h3>
<p>1,112 MW installed in 2013, representing 4% growth over 2012.</p>
<p>Thanks to a huge Q4, the non-residential market (comprising commercial, government, school and nonprofit installations) squeaked out 4% annual growth at the national level. Still, it was a difficult year overall for the market. Three of the top five state markets in 2012 -- Arizona, California and New Jersey -- shrank in 2013. While this decline was overcome by impressive growth in a number of other markets, most notably Massachusetts, it made for a volatile period for project developers. </p>
<p><img alt="" height="575" src="http://www.seia.org/sites/default/files/Figure2-10.png" style="line-height: 1.538em;" width="723" />Within the Q4 2013 data, there are a number of positive signs for this market’s recovery in 2014.</p>
<ul><li><strong style="line-height: 1.538em;">New Jersey Market Recovery </strong><span style="line-height: 1.538em;">– New Jersey saw early signs of a recovery from its SREC-oversupply-driven slump in Q4. As is discussed in more detail in the New Jersey section of the Full Report, SREC pricing and supply/demand indicators suggest that the New Jersey market will see a stronger 2014 overall, though it is unlikely to reach its previous heights.</span><br /> </li>
<li><strong style="line-height: 1.538em;">Massachusetts Solar Shines </strong><span style="line-height: 1.538em;">– The Massachusetts market now has clarity regarding the next phase of its SREC program, dubbed SREC II, and 2014 will see a mixture of installations from final SREC I projects (of which there are many) and projects under the new structure, combining to create another strong year for 2013’s third-largest non-residential market.</span><br /> </li>
<li><strong style="line-height: 1.538em;">Secondary Market Expansion </strong><span style="line-height: 1.538em;">– A number of states with previously small or stagnant non-residential markets will see meaningful installation growth in 2014. In particular, look for significant figures out of New York, Arizona, and Colorado.</span></li>
</ul><h3><span style="line-height: 1.538em;">Utility</span></h3>
<p>2,847 MW installed in 2013, representing 58% growth over 2012.</p>
<p>To place the utility PV sector’s impressive installation growth in historical perspective, utility PV installations in 2013 alone accounted for approximately one-quarter of all cumulative PV capacity in the U.S. Of this total, a record-breaking 1.4 GW came on-line in Q4 2013 alone. But despite this impressive growth in installations, project pipeline replenishment was in the red for the first time in the segment’s history in Q4, with installations outpacing new procurement as RPS-driven demand began to wane and with less than three years remaining for the 30% federal investment tax credit. The contracted pipeline of projects fell from 12.6 GW to 11.7 GW, of which 3.3 GW is currently in construction with expected completion in the next two to three years. </p>
<p><img alt="" height="645" src="http://www.seia.org/sites/default/files/Figure2-11.png" style="line-height: 1.538em;" width="723" />Looking forward to 2014, the demand landscape has shifted toward projects in the 1 MW to 20 MW range in order to meet utilities’ near-term capacity needs and remaining RPS compliance obligations. New procurement of utility PV in the 50 MW to 100 MW range is currently confined primarily to Georgia Power’s Advanced Solar Initiative and the wave of new RFPs that will be issued by North Carolina’s IOUs to meet the ample capacity remaining for their RPS requirements. A glimpse of future utility PV demand based on pure cost-competitiveness has come from Xcel Energy in Colorado, which has received approval to procure 170 MW of utility PV as a hedge against volatile natural gas prices.</p>
<h3>2.2. System Prices</h3>
<p>2013 ranks as another banner year for average installed price reductions across all market segments in the U.S.</p>
<p>Quarter-over-quarter, the national average system price declined by 15%, falling from $3.05/W in Q3 to $2.59/W in Q4, while dropping 14.8% from $3.04/W a year earlier. This capacity-weighted number is heavily impacted by the volume of utility-scale solar installed in a given quarter. Utility PV capacity accounted for more than two-thirds of all new capacity installed, and for that reason, it had a relatively larger impact on the blended average system price. Individually, the residential, non-residential, and utility segments all saw price decreases on a quarter-over-quarter basis. (It should be noted that prices reported in this section are weighted averages based on all systems that were completed in Q4 across many locations and that the weight of any individual location can influence the average.)</p>
<ul><li>From Q4 2012 to Q4 2013, <strong>residential</strong> system prices fell 8.8%, from $5.03/W to $4.59/W. Quarter-over-quarter, installed prices declined by 3.2%. Installed prices came down in most major residential markets including California, Arizona, New Jersey, and New York. <br /> </li>
<li><strong>Non-residential</strong> system prices fell by an impressive 16.3% year-over-year, from $4.26/W to $3.57/W, while quarter-over-quarter installed costs decreased by 11%. Higher-priced school and government projects with prevailing wage requirements drove up average installed costs in Arizona’s non-residential market. Amidst this uptick, however, the non-residential market on the whole benefited from an influx of large ground-mount systems completed in Massachusetts and New Jersey, with $3.00/W <em>average</em> installed prices and prices that ranged as low as $1.94/W. <br /> </li>
<li><strong>Utility</strong> system prices once again declined quarter-over-quarter and year-over-year, down from $2.27/W in Q4 2012 and $2.04/W in Q3 2013, settling at $1.96/W in Q4 2013. </li>
</ul><p>On the whole, installed PV prices vary greatly not only state to state, but also project to project. Common residential system prices ranged from less than $3.00/W to just under $7.00/W. Non-residential prices hit levels as low as $1.70/W, but ranged upward to almost $8.00/W. Utility prices also display high variability: a 50-MW-plus fixed-tilt installation will be significantly less expensive than a 1 MW pilot project that employs dual-axis tracking. (Note that the lowest installed cost per watt does not necessarily yield the lowest levelized cost of energy, an important metric for measuring project returns which is heavily influenced by the energy production.)</p>
<p><img alt="" height="605" src="http://www.seia.org/sites/default/files/Figure2-12.png" width="723" /></p>
<h3>2.3. Component Pricing</h3>
<p>Note: Detailed component pricing, including inverters and mounting structures, available in the Full Report</p>
<h3>2.3.1 Polysilicon, Wafers, Cells and Modules</h3>
<p>After two years of continuous and often precipitous declines, pricing for polysilicon and upstream PV components recovered in 2013 due to a much stronger global supply-demand balance. Pricing for polysilicon, wafers and modules in Q4 2013 registered increases of low single digits compared to Q4 2012, while Q4 2013 cell pricing was up 35% year-over-year. This was due to price hikes for Taiwanese cells driven by explosive growth in the Japanese end market, where large volumes of Taiwanese cells are currently sold for module assembly. On a quarterly basis, pricing continued to tick upwards slightly compared to Q3 2013 due to strong end demand in Japan, the U.S. and China, as well as a more consolidated supply chain. Blended polysilicon prices increased by 6% quarter-over-quarter to $20.20/kg, while blended module ASPs were up to $0.72/W, 3% higher than Q3 2013 levels. Pricing increases could continue over the course of 2014, with spot polysilicon currently trading in the $24/kg to $25/kg range and U.S. module pricing increasing by $0.01/W to $0.02/W in January and February.</p>
<p> </p>
<h3><img alt="" src="http://www.seia.org/sites/default/files/Figure2-13.jpg" /></h3>
<h3>2.4 Market Outlook</h3>
<p>For 2014, our forecast calls for 26% overall growth in the U.S. solar market, with installations reaching nearly 6 GW. We expect growth in all three segments, though at varying magnitudes.</p>
<p><img alt="" height="537" src="http://www.seia.org/sites/default/files/Figure2-14-2-15.png" style="line-height: 1.538em;" width="1044" />Forecast details by state and market segment are available in the <a href="http://www.greentechmedia.com/research/ussmi">Full Report</a>.</p>
<h2>3. Concentrating Solar Power</h2>
<p>While the 5 MWac Kalaeloa Solar One project was the only concentrating solar power (CSP) project to come on-line in the first three quarters of 2013, in Q4 the first wave of mega-scale CSP projects began to come on-line, starting with Abengoa’s 280 MW<sub>ac</sub> Solana Generating Station and the first 125 MW<sub>ac</sub> phase of NextEra’s Genesis solar project.</p>
<p>While BrightSource Energy’s Ivanpah project dominated market news throughout 2013, it officially achieved commercial operation during Q1 2014. The next notable project slated for completion is SolarReserve’s 110 MWac Crescent Dunes, which entered the commissioning phase in February 2014. Major CSP project development highlights throughout 2013 and into the beginning of 2014 can be found below:</p>
<p> <img alt="" src="http://www.seia.org/sites/default/files/Figure3-1.jpg" /></p>
<p> </p>
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<div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline inline">
<div class="field-label">Tags</div>
<ul class="field-items comma-separated">
<li>
<a href="/tags/concentrating-solar-power-csp" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Concentrating solar power (CSP)</a> </li>
<li>
<a href="/tags/solar-market-insight-smi-market-development" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI) market development</a> </li>
<li>
<a href="/tags/distributed-generation-dg" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Distributed Generation (DG)</a> </li>
<li>
<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
<li>
<a href="/tags/photovoltaics-pv" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Photovoltaics (PV)</a> </li>
<li>
<a href="/tags/solar-market-insight-smi" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI)</a> </li>
</ul>
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<div class="field-label">Publisher</div>
<ul class="field-items comma-separated">
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<a href="/publisher/solar-energy-industries-association" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Energy Industries Association</a> </li>
</ul>
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Fri, 28 Feb 2014 16:58:21 +0000susannamurley@gmail.com4366 at http://www.seia.orghttp://www.seia.org/research-resources/solar-market-insight-report-2013-year-review#commentsSEIA Applauds Approval of New Solar Energy Projectshttp://www.seia.org/news/seia-applauds-approval-new-solar-energy-projects
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<p>WASHINGTON, D.C. – Reacting to the announcement that two solar energy projects located near the Nevada-California border have been approved as part of President Obama’s <a data-mce-="" href="http://www.whitehouse.gov/sites/default/files/image/president27sclimateactionplan.pdf">Climate Action Plan</a> to reduce carbon pollution, create jobs and move our economy toward clean energy sources, Ken Johnson, vice president of communications for the Solar Energy Industries Association, issued the following statement: </p>
<p>"As the fastest-growing source of renewable energy in America, solar is poised to have another record-breaking year in 2014 - and these new projects in Nevada and California are the latest evidence of that. President Obama and his administration deserve a lot of credit for pursuing smart public policies that have opened the doors to the widespread development of utility-scale solar, as well as the rapid expansion of rooftop solar. But despite our tremendous successes to date, we're just scratching the surface of solar's enormous potential across America."</p>
<p># # #</p>
<p><strong>About SEIA:</strong></p>
<p>Celebrating its 40th anniversary in 2014, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA® is building a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,000 member companies to champion the use of clean, affordable solar in America by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. Visit SEIA online at <a data-mce-="" href="http://salsa.wiredforchange.com/dia/track.jsp?key=-1&amp;url_num=2&amp;url=http%3A%2F%2Fwww.seia.org%2F" target="_blank">www.seia.org</a>.</p>
<p><strong>Media Contacts:</strong></p>
<p>Ken Johnson, SEIA Vice President of Communications, <a data-mce-="" href="mailto:kjohnson@seia.org" target="_blank">kjohnson@seia.org</a> (202) 556-2885 <br />Samantha Page, SEIA Press Officer and Communications Manager, <a data-mce-="" href="mailto:spage@seia.org" target="_blank">spage@seia.org</a> (202) 556-2886</p>
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<a href="/tags/federal-policy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Federal Policy</a> </li>
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<a href="/tags/california" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">California</a> </li>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
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<a href="/tags/nevada" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Nevada</a> </li>
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<a href="/tags/president-united-states-potus" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">President of the United States (POTUS)</a> </li>
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<span class="date-display-single" property="dc:date" datatype="xsd:dateTime" content="2014-02-19T00:00:00-05:00">Wednesday, February 19, 2014</span> </div>
Wed, 19 Feb 2014 17:37:25 +0000spage4344 at http://www.seia.orghttp://www.seia.org/news/seia-applauds-approval-new-solar-energy-projects#commentsTop U.S. Companies Receive 2013 Solar Champion Awards in Chicagohttp://www.seia.org/news/top-us-companies-receive-2013-solar-champion-awards-chicago
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<p>CHICAGO, IL – The Solar Energy Industries Association (SEIA) today announced the winners of this year’s Solar Champion Awards, honoring top U.S. companies for their continued commitment to the deployment of clean solar energy.</p>
<p>Costco, FedEx, General Motors, IKEA, Johnson &amp; Johnson, Kohl’s, L’Oréal, Macy’s, Safeway, Toyota, Walgreens and Walmart were among the companies honored at a ceremony at Chicago’s McCormick Place.</p>
<p>“America’s solar energy industry recognizes these companies for their ongoing commitment to the environment and outstanding leadership in the area of corporate responsibility,” said SEIA President and CEO Rhone Resch. “Corporate use of clean solar energy is step forward in America’s efforts to become energy independent, while creating jobs and boosting local economies. Today we’re proud to salute these companies as Solar Champions.”</p>
<p>The top 25 Corporate Solar Users in the U.S., which include today’s honorees, have increased their solar capacity by 48 percent from a year ago and are using solar across 30 states and Puerto Rico, according to SEIA’s annual Solar Means Business report, released last week.</p>
<p>The Solar Champion awards were presented at a ceremony during Solar Power International 2013, the solar industry’s largest American tradeshow. The annual awards honor individuals, agencies and organizations whose innovation, leadership and determination contribute to achieving the solar industry’s goal of building 10 GWs of solar capacity annually in the U.S. </p>
<p> </p>
<p><strong>###</strong></p>
<p><strong>About SEIA:</strong><br />Established in 1974, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA® is building a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,000 member companies to champion the use of clean, affordable solar in America by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. Visit SEIA online at <a _fcksavedurl="http://salsa.wiredforchange.com/dia/track.jsp?key=-1&amp;url_num=10&amp;url=http%3A%2F%2Fwww.seia.org" href="http://salsa.wiredforchange.com/dia/track.jsp?key=-1&amp;url_num=10&amp;url=http%3A%2F%2Fwww.seia.org">www.seia.org</a>.</p>
<p><strong>Media contacts: </strong></p>
<p>Ken Johnson, SEIA Vice President of Communications, <a _fcksavedurl="mailto:kjohnson@seia.org" href="mailto:kjohnson@seia.org">kjohnson@seia.org</a> (202) 556-2885</p>
<p>Samantha Page, SEIA Press Officer and Communications Manager, <a _fcksavedurl="mailto:spage@seia.org" href="mailto:spage@seia.org">spage@seia.org</a> (202) 556-2886</p>
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<a href="/tags/commercial-solar" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Commercial Solar</a> </li>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
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<a href="/tags/trade-show" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Trade Show</a> </li>
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<span class="date-display-single" property="dc:date" datatype="xsd:dateTime" content="2013-10-23T00:00:00-04:00">Wednesday, October 23, 2013</span> </div>
Wed, 23 Oct 2013 15:08:02 +0000spage4035 at http://www.seia.orghttp://www.seia.org/news/top-us-companies-receive-2013-solar-champion-awards-chicago#commentsSEIA Leadership Urges Industry to Unite in Face of Challengeshttp://www.seia.org/news/seia-leadership-urges-industry-unite-face-challenges
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<p>CHICAGO, IL -- Speaking at the opening session of Solar Power International 2013 -- the largest solar trade show in America -- Rhone Resch, president and CEO of the Solar Energy Industries Association delivered the following remarks:</p>
<p>Good afternoon everyone. Welcome to Chicago. Welcome to SPI 2013. And welcome to the Big Leagues.</p>
<p>Since 2006, when the solar Investment Tax Credit first went into effect, we’ve gone from being an “upstart industry” – one that our critics predicted would fail miserably – to one of the fastest-growing industries in the United States, today employing 120,000 Americans at more than 6,000 companies from coast to coast and pumping billions of dollars in the U.S. economy. </p>
<p>When it’s all said and done, 2013 will go down as a record-shattering year for America’s solar energy industry. And if we’re smart – and we keep working together as a team in the future, speaking with one powerful voice – the best is yet to come.</p>
<p>You know it. I know it. And a lot of people in Washington, D.C. know it, too, including the President of the United States.</p>
<p>This year, America heard us roar. By the end of this year, we expect to have 13 GW of cumulative solar electric capacity installed in the U.S. – enough to power more than 2 million American homes, including the White House! </p>
<p>But we are just beginning. Next year, it’s estimated that an additional 5.5 GW of PV and 700 MW of CSP will be installed, which is enough to power another 1 million homes across the nation. All totaled, we’re talking about the capacity very soon to power more than 3 million American homes.</p>
<p>To put that in some perspective, our industry – by the end of 2014 – will be cranking out enough electricity to effectively power every home Delaware, Alaska, Hawaii, Maine, North Dakota, South Dakota, Rhode Island, Vermont and Wyoming combined.</p>
<p>Like I said, welcome to the Big Leagues!</p>
<p>But to be a true champion, you need to have “staying power.” Any way you look at it, that’s the real challenge for our industry moving forward. Our federal tax credit is set to expire at the end of 2016. And that’s why we need to work together, every single one of us, to extend the solar ITC past 2016 – work that has to begin now, not six months before the law expires!</p>
<p>How many people in this room benefit either directly or indirectly from the solar ITC? That's right, everyone. Every single person in this industry benefits from the ITC. That's why we all need to step up and get involved.</p>
<p>We also need to pass commence construction language in Congress, expand Net Energy Metering, protect and expand Renewable Portfolio Standards in states all across the country and collectively promote the enormous societal benefits of using solar energy to the U.S. economy and to our world’s increasingly fragile environment. </p>
<p>You can be sure of one thing: If you don’t get involved and we as an industry don’t participate in a committed and shared effort, we will only make it that much easier for our critics and enemies to silence our roar. </p>
<p>Earlier this year, the Edison Electric Institute, which represents about 200 investor-owned electric companies, issued a white paper called “Disruptive Challenges.” Well, guess what was singled out as the biggest threat to electric utilities nationwide? Cybersecurity and terrorism? Nope. EPA Carbon Pollution Standards? Wrong again. How about rising energy prices? Not even mentioned. </p>
<p>Instead, EEI’s report singles out distributed generation and solar energy as its number one long-term threat. And since that report was published, utility CEOs around the country have been singing from the same song sheet – roll back net metering, institute fixed monthly charges for solar customers, protect us from consumer choice. They are aligned in their approach to dismantle net metering laws in this country.</p>
<p>Fortunately, we’re not in this fight alone. Today, 90 percent of Americans want to see an expanded use of solar. That’s right, 90 percent of utility customers want more solar. It’s time for utilities to start listening to their customers rather than their shareholders.</p>
<p>From the Heartland Institute – funded in large part by the Koch Brothers – to the ultra-conservative American Legislative Exchange Council, groups all across the United States are lined up to oppose an expansion of solar energy.</p>
<p>Simply put, our critics will do everything they can to make sure solar becomes nothing more than a footnote in history. We cannot let that happen. So buckle up and tighten your chin straps folks, we’ve got a lot of big challenges ahead of us.</p>
<p>Working together, we can – and we will – keep solar strong and growing.</p>
<p>So to the Climate Change Deniers out there and the card-carrying members of the Flat Earth Society, I’ll simply say this: Go ahead. See what happens when you grab the tail of a tiger!</p>
<p>And that’s one reason why SEIA and its member companies will soon be launching a new, nationwide “America Supports Solar” campaign. You can learn more by going to Americasupportssolar.org.</p>
<p>A key part of this exciting, multi-dimensional campaign is to reach out and educate our core audiences – Members of Congress and the White House, state legislators and governors, regulators and commissioners and our allies and advocates. </p>
<p>Think about it – 9 out of 10 Americans support solar. We need to be shouting this from the rooftops and from every street corner. </p>
<p>To Main Street America, it’s easy to understand why solar energy is so important to our future. It’s a no-brainer.</p>
<p>Solar is clean, safe, affordable, reliable and abundant. It creates jobs, grows our economy, fosters U.S. innovation and powers our homes, schools and businesses. But, just as importantly, solar also offers freedom and security – the freedom to choose your own energy source based on your own individual needs, while at the same time, enhancing America’s national security by reducing our risky dependence on dirty sources of energy.</p>
<p>These are just a few reasons why America Supports Solar overwhelmingly. We need your help to make this campaign a huge success. </p>
<p>Another way we can come together is through our sister organization, The Solar Foundation, which also needs your help. Right now, The Solar Foundation is collecting data for the 4<sup>th</sup> Annual National Solar Jobs Census. Please make sure you complete the survey so we can compile the most up-to-date U.S. jobs numbers. This is critically important information to have as part of our argument when we’re talking to Members of Congress, regulators and state legislators around the country.</p>
<p>There’s some other good news that I want to share with you today. The annual Solar Means Business Report, which identifies major commercial solar projects and ranks America’s top corporate solar users, was just released by SEIA and Vote Solar. </p>
<p>And for the second year in a row, Walmart is America’s commercial solar leader with 89 MW installed at 215 locations. </p>
<p>Today, the list of companies moving to clean, affordable solar energy reads like a ‘Who’s Who’ of the most successful corporations in America. Simply put, these iconic brands – from Apple to General Motors – are leading the way when it comes to efforts to transition to clean, renewable energy. By doing so, they’re helping to create thousands of American jobs, boost the U.S. economy and improve our environment. At the same time, they’re also reducing operating expenses, which benefits both their customers and shareholders.</p>
<p>Combined, these Top 25 companies have deployed 445 MW of solar capacity – a whopping 48 percent increase from one year ago. </p>
<p>And the growth of solar in the United States isn’t limited to commercial businesses – it’s spread across all sectors. For example, today there are nearly 40 utility-scale, clean energy solar projects under construction in the U.S. – utilizing both PV and CSP technologies – putting thousands of electricians, steelworkers and laborers to work, while also helping to reduce carbon emissions from power plants. </p>
<p>In addition, innovative solar heating and cooling systems are offering American consumers cost-efficient, effective options for meeting their energy needs, while lowering their utility bills. In fact, in the Solar Heating and Cooling Roadmap, prepared by SEIA, we outline an aggressive plan to install 100 million SHC panels in the United States by 2050. That action alone would create over 50,000 new American jobs and save more than $60 billion in future energy costs.</p>
<p>Meanwhile, the Solar Market Insight Report, produced by SEIA and GTM Research shows the U.S. installed 832 MW of new PV capacity in the second quarter of this year – with the U.S. residential solar market growing by almost 50 percent over Q2 2012.</p>
<p>What’s spurring this growth? For one thing, solar energy is now more affordable than ever. Average PV system prices have declined by more than 40 percent since the beginning of 2011, while average module prices have declined by more than 60 percent over the same time period. </p>
<p>So you can imagine our excitement when we learned that solar energy is once again helping to power the White House. Clearly, installing solar panels on the First Family’s official residence, arguably the most famous building in America, underscores the growing popularity of solar energy nationwide. There’s no billboard in the world better for your industry than 1600 Pennsylvania Avenue.</p>
<p>In some ways, this is like getting the Good Housekeeping Seal of Approval. SEIA put a bug in President Obama’s ear about installing solar panels on the White House when he first took office in 2009, and we’ve worked with a coalition to bring it up in every meeting since then. To see this finally happen is not only gratifying, but it also helps to highlight solar as a mainstream source of clean, abundant and affordable energy.</p>
<p>For years, there was only one real argument against solar: It was too expensive. That’s no longer the case. When President Carter was in office solar thermal applications dominated, and PV solar panels were, in fact, very costly and used primarily for off-grid and space applications. Since then, the cost of PV has plummeted by more than 97 percent and the industry has become one of the most innovative and entrepreneurial sectors of our economy. </p>
<p>This is what happens when we work together. Today, we’re creating thousands of new jobs, growing the U.S. economy, strengthening our nation’s long-term energy security and fighting climate change. </p>
<p>So in closing, thanks for everything you do to make clean, affordable solar energy an important part of our future – both for America, and the world.</p>
<p>But remember, for us to be successful over the long haul, it will take enhanced collaboration, dedication and teamwork. And as President Obama told us in his remarks – we need to fight for a brighter future. </p>
<p>The most important step you can take is to join this fight. Join us, become part of your industry’s trade association – join SEIA. If you’re not a member of national SEIA already, join now. We need your help and support if we’re going to have the resources necessary to win these important battles, which will determine the future of your business and the future of solar in America. </p>
<p>I’m reminded of something the legendary industrialist Henry Ford once said:</p>
<p>“Coming together is a beginning; keeping together is progress; working together is success.” </p>
<p>Thank you and have a great experience at SPI 2013!</p>
<p><strong>###</strong></p>
<p><strong>About SEIA:</strong><br />Established in 1974, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA® is building a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,000 member companies to champion the use of clean, affordable solar in America by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. Visit SEIA online at <a _fcksavedurl="http://salsa.wiredforchange.com/dia/track.jsp?key=-1&amp;url_num=10&amp;url=http%3A%2F%2Fwww.seia.org" href="http://salsa.wiredforchange.com/dia/track.jsp?key=-1&amp;url_num=7&amp;url=http%3A%2F%2Fsalsa.wiredforchange.com%2Fdia%2Ftrack.jsp%3Fkey%3D-1%26url_num%3D10%26url%3Dhttp%253A%252F%252Fwww.seia.org">www.seia.org</a>.</p>
<p><strong>Media contacts: </strong></p>
<p>Ken Johnson, SEIA Vice President of Communications, <a _fcksavedurl="mailto:kjohnson@seia.org" href="mailto:kjohnson@seia.org">kjohnson@seia.org</a> (202) 556-2885</p>
<p>Samantha Page, SEIA Press Officer and Communications Manager, <a _fcksavedurl="mailto:spage@seia.com" href="mailto:spage@seia.com">spage@seia.org</a> (202) 556-2886</p>
<p> </p>
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<div class="field field-name-field-topics field-type-taxonomy-term-reference field-label-inline inline">
<div class="field-label">Topics</div>
<ul class="field-items comma-separated">
<li>
<a href="/policy/distributed-solar" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Distributed Solar</a> </li>
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<a href="/policy/environment" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Environment</a> </li>
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<a href="/policy/renewable-energy-deployment" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Renewable Energy Deployment</a> </li>
<li>
<a href="/policy/solar-technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Technology</a> </li>
<li>
<a href="/policy/state-solar-policy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">State Solar Policy</a> </li>
</ul>
</div>
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<div class="field-label">Tags</div>
<ul class="field-items comma-separated">
<li rel="dc:subject">
<a href="/tags/commercial-solar" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Commercial Solar</a> </li>
<li rel="dc:subject">
<a href="/tags/concentrating-solar-power-csp" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Concentrating solar power (CSP)</a> </li>
<li rel="dc:subject">
<a href="/tags/deployment" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">deployment</a> </li>
<li rel="dc:subject">
<a href="/tags/federal-policy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Federal Policy</a> </li>
<li rel="dc:subject">
<a href="/tags/residential-solar" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Residential Solar</a> </li>
<li rel="dc:subject">
<a href="/tags/solar-manufacturing-incentives" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Manufacturing Incentives</a> </li>
<li rel="dc:subject">
<a href="/tags/solar-market-insight-smi-market-development" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI) market development</a> </li>
<li rel="dc:subject">
<a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">technology</a> </li>
<li rel="dc:subject">
<a href="/tags/utility-scale-solar-usp" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Utility-Scale Solar (USP)</a> </li>
<li rel="dc:subject">
<a href="/tags/federal" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Federal</a> </li>
<li rel="dc:subject">
<a href="/tags/grid-integration" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Grid Integration</a> </li>
<li rel="dc:subject">
<a href="/tags/incentives" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Incentives</a> </li>
<li rel="dc:subject">
<a href="/tags/investment-tax-credit-itc" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Investment Tax Credit (ITC)</a> </li>
<li rel="dc:subject">
<a href="/tags/legislative" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Legislative</a> </li>
<li rel="dc:subject">
<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
<li rel="dc:subject">
<a href="/tags/manufacturing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Manufacturing</a> </li>
<li rel="dc:subject">
<a href="/tags/photovoltaics-pv" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Photovoltaics (PV)</a> </li>
<li rel="dc:subject">
<a href="/tags/president-united-states-potus" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">President of the United States (POTUS)</a> </li>
<li rel="dc:subject">
<a href="/tags/regulatory" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Regulatory</a> </li>
<li rel="dc:subject">
<a href="/tags/renewable-energy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Renewable Energy</a> </li>
<li rel="dc:subject">
<a href="/tags/renewable-energy-standard-res" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Renewable Energy Standard (RES)</a> </li>
<li rel="dc:subject">
<a href="/tags/trade-show" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Trade Show</a> </li>
<li rel="dc:subject">
<a href="/tags/solar-foundation-0" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">The Solar Foundation</a> </li>
<li rel="dc:subject">
<a href="/tags/utility-scale-solar" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Utility-Scale Solar</a> </li>
<li rel="dc:subject">
<a href="/tags/solar-data" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Data</a> </li>
<li rel="dc:subject">
<a href="/tags/solar-heating-cooling-shc" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Heating and Cooling (SHC)</a> </li>
<li rel="dc:subject">
<a href="/tags/solar-jobs" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Jobs</a> </li>
<li rel="dc:subject">
<a href="/tags/smart-grid-0" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Smart-Grid</a> </li>
<li rel="dc:subject">
<a href="/tags/solar-market-insight-smi" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI)</a> </li>
<li rel="dc:subject">
<a href="/tags/tax" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Tax</a> </li>
<li rel="dc:subject">
<a href="/tags/tax-credits" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Tax Credits</a> </li>
</ul>
</div>
<div class="field field-name-field-date field-type-datetime field-label-hidden">
<span class="date-display-single" property="dc:date" datatype="xsd:dateTime" content="2013-10-21T00:00:00-04:00">Monday, October 21, 2013</span> </div>
Mon, 21 Oct 2013 21:55:47 +0000spage4033 at http://www.seia.orghttp://www.seia.org/news/seia-leadership-urges-industry-unite-face-challenges#commentsAmerica Votes Solar - National Solar Survey 2012http://www.seia.org/research-resources/america-votes-solar-national-solar-survey-2012
<div class="field field-name-field-resource-type field-type-list-text field-label-hidden">
Report </div>
<div class="label-inline">File(s):&nbsp;</div><span class="file"><img class="file-icon" alt="" title="application/pdf" src="/modules/file/icons/application-pdf.png" /> <a href="http://www.seia.org/sites/default/files/resources/seia-2012-national-solar-poll-questions-121001131704-phpapp02.pdf" type="application/pdf; length=116534" title="seia-2012-national-solar-poll-questions-121001131704-phpapp02.pdf">Download Poll Questions</a></span><span class="file"><img class="file-icon" alt="" title="application/pdf" src="/modules/file/icons/application-pdf.png" /> <a href="http://www.seia.org/sites/default/files/resources/seia-2012-national-solar-poll-memo-121001131703-phpapp01.pdf" type="application/pdf; length=89247" title="seia-2012-national-solar-poll-memo-121001131703-phpapp01.pdf">Download Highlights Memo</a></span><span class="file"><img class="file-icon" alt="" title="application/pdf" src="/modules/file/icons/application-pdf.png" /> <a href="http://www.seia.org/sites/default/files/resources/seia-hart-2012-national-solar-poll-slides-121001133754-phpapp02.pdf" type="application/pdf; length=104508" title="seia-hart-2012-national-solar-poll-slides-121001133754-phpapp02.pdf">Download Presentation</a></span><div class="field field-name-body field-type-text-with-summary field-label-hidden">
<p><a href="https://www.seia.org/research-resources/america-votes-solar-infographic"><img src="https://www.seia.org/sites/default/files/Vote4Solar-button-2.png" style="width: 190px; height: 190px; float: right;" /></a><em>Links</em></p>
<ul><li><a href="https://www.seia.org/news/poll-reveals-strong-support-solar-energy-across-political-spectrum-eve-first-presidential">SEIA's Press Statement</a></li>
<li><a href="https://www.seia.org/research-resources/america-votes-solar-infographic">Infographic: America Votes for Solar</a></li>
<li><a href="https://www.seia.org/research-resources/national-solar-survey">Archive of Past National Solar Polls</a></li>
</ul><p>From September 4 to 9, 2012, Hart Research undertook an online national survey of 1,206 registered voters on behalf of SEIA, including an oversample of swing voters (resulting in 762 swing voter interviews). The swing voter sample included only those respondents who did not indicate a strong or consistent partisan voting history. The margin of error for the full sample is ±2.8 percentage points. </p>
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<h4>Overview</h4>
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<p><strong>On a broad range of core measures, voters consistently express a strongly favorable view of solar energy. These positive perceptions extend to support for government policies that encourage the development and expansion of solar energy use in the United States.</strong></p>
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<h4>Key Findings</h4>
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<h2><strong>9 of 10 voters (92%) </strong>believe it is important for the United States to develop and use solar power.</h2>
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<script type="text/javascript" async="" src="https://stipple.com/embed/6202756.js"></script><p>A nearly unanimous 92% of voters feel it is very important (58%) or somewhat important (34%) for the United States to develop and use solar power, including 93% of swing voters. Democrats and independents are nearly uniform in their agreement (98% and 95% important, respectively), and 84% of Republicans also agree.</p>
<h2><strong>Energy is an important issue for voters as they head toward the final stretch of the 2012 campaign.</strong></h2>
<p>With a wide range of electoral issues on the table, issues related to energy are important to American voters, with 74% saying that energy is one of the most important (27%) or very important (47%) issues as they think about the candidates for president and other federal and state offices this year. For context, this is ahead of the environment (55%) and slightly behind government spending (90%), Medicare reform (81%), and education (80%). This is true for swing voters (72% say energy is most or very important), Democrats (79%), Republicans (67%), and independents (75%).</p>
<h2>Voters have a strongly favorable view of solar energy.</h2>
<p>Fully 85% of voters have a very favorable (60%) or somewhat favorable (25%) view of solar energy, including 87% of swing voters. This places solar ahead of wind power (82%), hydropower (76%), natural gas (71%), geothermal (62%), nuclear power (43%), oil (42%), and coal (32%).</p>
<p style="text-align: center;"><img alt="" src="https://www.seia.org/sites/default/files/solar-party.png" style="width: 500px; height: 322px;" /></p>
<p><script type="text/javascript" async="" src="https://stipple.com/embed/6202754.js"></script></p>
<h2><strong>Of all the sources of energy that government can and should support, voters put solar at the top of the list. </strong></h2>
<p>Voters identify solar as the energy source they are most eager to have the federal government and U.S. policy support through tax credits and financial incentives. In fact, when presented with eight different forms of energy that the federal government should encourage (in addition to the option of saying none), 64% of voters, including 67% of swing voters, say that solar should be on that list (the next highest is wind power at 57%). </p>
<p style="text-align: center;"><img alt="" src="https://www.seia.org/sites/default/files/incentives.png" style="width: 500px; height: 322px;" /></p>
<p><script type="text/javascript" async="" src="https://stipple.com/embed/6202751.js"></script></p>
<h2><strong>Voters are enthusiastic about the federal government doing more to promote solar energy.</strong></h2>
<p>Voters express broad agreement that solar development is an appropriate and desired investment for government, with a strong majority of voters saying the federal government should be doing MORE than it currently is to promote solar power. Fully seven in 10 (70%) voters, including 72% of swing voters, say the federal government should be doing more (16% favor continuing its current policies and 14% prefer to see the government doing less). This mirrors the 69% of all voters (and 71% of swing voters) who say the government is currently not doing enough to promote solar power. This consensus holds up across age, education, and racial boundaries. </p>
<h2><strong>Voters’ favorable views of solar energy translate into support for government policies that will facilitate solar power development and expansion through financial incentives—this support holds up across party lines. </strong></h2>
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<script type="text/javascript" async="" src="https://stipple.com/embed/6202753.js"></script></p><p><img alt="" src="https://www.seia.org/sites/default/files/tax-credits.png" style="line-height: 1.538em; width: 500px; height: 322px;" /></p>
<p>Taking their enthusiasm for government support to the next level, 78% of voters say the federal government should provide tax credits and financial incentives to encourage the development and use of solar energy and only 22% say the federal government should not do this. This sentiment is shared by swing voters (79% to 21%), as well as by Democrats (91% to 9%), independents (78% to 22%), and Republicans (63% to 37%).</p>
<h2><strong>Currently, voters’ reservations about solar energy center primarily on affordability and practicality. </strong></h2>
<p>While strongly supportive of policies to develop solar power, voters express uncertainty about some elements of solar. For example, a majority (66%) of voters agree that “solar power is too expensive for most consumers” (though just 22% say it definitely is true) and 54% say the same about “solar power is not practical in many areas of the country” (just 11% say definitely true). Communicating the increased affordability and efficiency of solar power is critical in addressing these concerns. </p>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
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<a href="/tags/solar-data" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Data</a> </li>
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<a href="/tags/solar-market-insight-smi" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI)</a> </li>
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<a href="/tags/solar-poll" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Poll</a> </li>
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Thu, 27 Sep 2012 14:57:24 +0000susannamurley@gmail.com2601 at http://www.seia.orghttp://www.seia.org/research-resources/america-votes-solar-national-solar-survey-2012#commentsThird-Party Solar Financinghttp://www.seia.org/policy/finance-tax/third-party-financing
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<p>Third-party financing allows more Americans to “go solar” by lowering the cost of solar installation and maintenance of a system. Companies continue to develop new products and services to meet growing demand for solar. SEIA is committed to supporting policies that enable this innovation to continue and lower costs for consumers. </p></div>
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<a href="/tags/solar-poll" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Poll</a> </li>
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<a href="/tags/solar-data" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Data</a> </li>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
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<a href="/tags/solar-market-insight-smi" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI)</a> </li>
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Mon, 24 Sep 2012 01:09:01 +0000mrader215 at http://www.seia.orghttp://www.seia.org/policy/finance-tax/third-party-financing#commentsSolar Investment Tax Credit (ITC)http://www.seia.org/policy/finance-tax/solar-investment-tax-credit
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<p><a href="http://www.seia.org/sites/default/files/ITC%20101%20Fact%20Sheet%20-%201-27-15.pdf">Click here for a Fact Sheet covering the basics of the Solar Investment Tax Credit (ITC)</a>.</p>
<p>The solar Investment Tax Credit (ITC) is one of the most important federal policy mechanisms to support the deployment of solar energy in the United States. SEIA successfully advocated for a multi-year extension of the credit in 2008, which provided business certainty to project developers and investors. The ITC continues to drive growth in the industry and job creation across the country.</p></div>
<div class="field field-name-field-page-type field-type-list-text field-label-above">
<div class="field-label">Page type</div>
Policy</div>
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<a href="/tags/solar-poll" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Poll</a> </li>
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<a href="/tags/solar-data" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Data</a> </li>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
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<a href="/tags/solar-market-insight-smi" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Market Insight (SMI)</a> </li>
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Mon, 24 Sep 2012 00:53:01 +0000mrader210 at http://www.seia.orghttp://www.seia.org/policy/finance-tax/solar-investment-tax-credit#commentsSolar Means Business Infographic 2012http://www.seia.org/research-resources/solar-means-business-infographic-2012
<div class="field field-name-field-resource-type field-type-list-text field-label-hidden">
Infographic </div>
<div class="field field-name-field-link field-type-link-field field-label-inline inline">
<div class="field-label">Link</div>
<a href="http://www.seia.org/sites/default/files/Solar-means-business-infographic.jpg">Solar Means Business Infographic</a></div>
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<p>Who tops the list of America's corporate solar users? SEIA and Vote solar released a report ranking businesses on how well they're using solar energy. Some of the state's most iconic brands are embracing renewable energy in a big way. <a href="https://www.seia.org/research-resources/solar-means-business-top-commercial-solar-customers-us">Find out more&gt;&gt;</a></p>
<div class="visually_embed" data-category="Other" rel="infographic"><img alt="Solar Means Business: Top Solar Users in the U.S." class="visually_embed_infographic" rel="http://thumbnails.visually.netdna-cdn.com/solar-means-business-top-solar-users-in-the-us_5069f2af36781.jpg" src="http://thumbnails.visually.netdna-cdn.com/solar-means-business-top-solar-users-in-the-us_5069f2af36781_w587.jpg" /></div>
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<link href="http://visual.ly/embeder/style.css" rel="stylesheet" type="text/css" /><script type="text/javascript" src="http://visual.ly/embeder/embed.js"></script><p><a href="https://www.seia.org/research-resources/solar-means-business-top-commercial-solar-customers-us">View the full report&gt;&gt;</a></p>
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<div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline inline">
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<a href="/tags/infographic" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Infographic</a> </li>
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<a href="/tags/major-solar-projects" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Major solar projects</a> </li>
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<a href="/tags/solar-business" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Business</a> </li>
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<a href="/publisher/solar-energy-industries-association" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Solar Energy Industries Association</a> </li>
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Tue, 11 Sep 2012 18:38:04 +0000susannamurley@gmail.com2519 at http://www.seia.orghttp://www.seia.org/research-resources/solar-means-business-infographic-2012#comments